by Alyssa Oursler | November 19, 2012 10:30 am
Here’s one stock hitting a 52-week high and one finding a 52-week low today:
Video-game retailer GameStop (NYSE:GME) started off the year with a clear downward trend, falling from a price tag of $24 at the start of the year to $10 in early August.
Since that low, the tide has indeed turned. In the past three months, shares have rallied more than 40%. Today’s nearly 2% gains make for a new 52-week high just under $26.
The retailer has been struggling along with the video-game industry as a whole. In the most recent quarter, sales fell more than 8%. It still managed to post stronger-than-expected earnings in the third quarter, though, excluding an impairment charge. The company also announced plans to close more than 200 money-losing stores.
GameStop and its investors are hoping that the release of games like Microsoft‘s (NASDAQ:MSFT) Halo 4 and Activision Blizzard‘s (NASDAQ:ATVI) Call of Duty: Black Ops 2 will give the company a boost this holiday season.
The PC industry’s struggles are far from news — just look at Dell’s performance so far this year. Since January, shares have plummeted nearly 40%, going from a price of almost $15 to under $9. The stock is now sitting at a new 52-week low.
The most recent blow was a 7% drop on Friday that came on the heels of subpar Q3 earnings. Dell suffered a 47% fall in Q3 profit while EPS came in at 39 cents per share, missing estimates of 40 cents per share. Revenue also fell around 11% year-over-year.
On top of that, the company expects revenue and profits to again decline during the current quarter.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.
Source URL: http://investorplace.com/2012/11/stocks-at-new-highs-new-lows-for-1119/
Short URL: http://invstplc.com/1fMTFQ3
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.