POV: GameStop Stock Movie Release and GME Stock Price Rally 2023 – Facts, Figures and Hype!   

• GameStop Stock Movie from Sony Pictures, release date announced recently which might fuel GME stock price to skyrocket.
• On October 20, GameStop Stock Movie “Dumb Money”—featuring a star-studded ensemble that includes Paul Dano and Seth Rogen—will be released in theaters.
• The 2021 short-squeeze scenario at GameStop that caused the GME stock price to soar is chronicled in the movie Dumb Money.

GameStop Stock Movie “Dumb Money” Releasing in 2023

GME stock price might initiate its rally in 2023 as GameStop stock movie has been announced for its release with Sony Pictures. A date has been set for the release of Dumb Money, the upcoming GameStop stocks movie starring Paul Dano, Nick Offerman, and others. 

According to Deadline, Sony has set the theatrical debut of Dumb Money for October 20. The Antisocial Network by Ben Mezrich served as the inspiration for the movie, which recounts the tale of people who gained and lost enormous wealth overnight during the 2021 GameStop stock market short-squeeze. The GameStop stock price has since returned to normal, but it has increased by 300% over the previous five years.

According to reports, the film is based on the “classic David-vs.-Goliath tale” and paints a “irreverent and scathing portrait” of how a group of novice investors overcame Wall Street and managed to boost GameStop stock price—at least for a brief while.  

GME stock price (NYSE: GME) was at $17.17 and has lost 0.46% of its market capitalization by the opening of Monday’s trading session. Trading volume is still below average with a total of 1.142M trade and with increase in trade GameStop stock might experience a greater surge rate. It is about time for GameStop stock price to negate the declining streak and return towards the recovery. 

In addition, some analysts also suggest that GameStop stock movie release date announcement may fuel GME stock price to soar. And also to showcase its potential to rally during 2023.

GME Stock Price Pumped After the Announcement

GameStop stock price has been trying to revert back from the lower level but couldn’t sustain and bounce back. However, this time some facts and figures from a fresh report of an esteemed financial organization suggest the GME stock price (NYSE: GME) rally 2023. 

GME stock price rally 2023 is the real hype among GameStop stock investors and analysts believe that the judgment day is nearing with the release date of Dumb Money the GameStop Stock Movie. However, GME share price has dropped below 20, 50, 100 and 200-days Daily Moving Average. 

Moreover, technical analysis does confirm the fact check of GameStop stock price rally 2023 which might be led by the release of Dumb Money. However, some believe the GomeStop stock movie to be overhyped by analyzing the current circumstances and the performance of Gamestop stocks. On the contrary some GME investors are all in to bid over GameStop stock movie release and GME share price rally 2023.

Will GME Stock Price (NYSE: GME) Reach $50 in 2023?

GameStop stock needs to accumulate more buyers in order to surge towards the upper recovery level. GME stock price needs to break out of the primary resistance level of $20 and reach $25 completing halfway of the journey by mid 2023.  

Meanwhile, analysts also speculate GME share price to provide a breakout from $25 and rally towards the $50 milestone by the end of 2023. 

Technical indicators suggest the sustainability of GameStop stock price over the daily time frame chart. Relative strength index showcases the upside trend of GME shares. RSI was at 34 and has been trying to retreat towards neutrality. 

MACD exhibits the downside trend of GameStop stock price. The MACD line is below the signal line and is waiting for a positive crossover. Investors in GameStop stock need to wait until GME stock price reaches $25 the halfway of the milestone by mid 2023.  

Summary  

GME stock price might initiate its rally in 2023 as GameStop stock movie has been announced for its release with Sony Pictures. However, this time some facts and figures from a fresh report of an esteemed financial organization suggest the GME stock price rally 2023.

Moreover, technical analysis does confirm the fact check of GME share price rally 2023 which might be led by the release of Dumb Money. GameStop stock price needs to break out of the primary resistance level of $20 and reach $25 completing halfway of the journey by mid 2023.  

Technical indicators suggest the sustainability of GME share price over the daily time frame chart.

Technical Levels

Support Levels: $16.50 and $15.00

Resistance Levels: $20.00 and $25.00

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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