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GameStop (GME) Surges: Stock Moves 11.6% Higher

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GameStop Corp. (GME - Free Report) was a big mover last session, as the company saw its shares rise nearly 12% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $12.28 –$15.61 in the past one-month time frame, witnessed a sharp increase on Wednesday.

The move came after the company announced that it has inked a deal to divest its Spring Mobile business to Prime Communications for $700 million.

The company has seen one positive estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved higher over the past few weeks, suggesting that more solid trading could be ahead for GameStop. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

GameStop currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.

A better-ranked stock in the Retail – Consumer Electronics industry is Conn's, Inc. (CONN - Free Report) , which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is GME going up? Or down? Predict to see what others think: Up or Down

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