GameStop (GME) Stock Today, November 22, 2025: Price, Latest News, Short Interest and Outlook

GameStop stock heads into the weekend just pennies above its 52‑week low, with “meme stock” volatility colliding with a very real balance sheet, a big Bitcoin bet and heavy options speculation.

As of the most recent regular session on Friday, November 21, 2025, GameStop (NYSE: GME) closed at $20.14, up 1.0% on the day, on volume of about 5.47 million shares. After-hours trading briefly pushed the price to around $20.19, while tokenized GME trading is hovering near $20.18 in overnight markets early on November 22. ^[1]

Over the last year, GME has:

Fallen ~34% year to date
Delivered a –26.97% one‑year total shareholder return
Still produced a massive ~406.9% five‑year total return, a lingering echo of the 2021 meme‑stock squeeze ^[2]

That mix of deep drawdown and huge long‑term gains is exactly why GameStop stock remains on traders’ radar today.

GameStop stock price snapshot (as of November 22, 2025)

Based on Friday’s close and latest market data, here’s where GameStop stock stands:

Last close: $20.14 (Nov 21, 2025) ^[3]
After‑hours (Nov 21): ~$20.19 ^[4]
Tokenized GME (Nov 22 early a.m.): ~$20.18 ^[5]
Intraday range (Nov 21): $19.94 – $20.63 ^[6]
52‑week range: $19.93 – $35.81 ^[7]
Market cap: ≈ $9.0 billion ^[8]
Average daily volume (3 months): ~10.2 million shares ^[9]

On valuation, different data providers peg GME’s trailing P/E in the mid‑ to high‑20s:

Simply Wall St: ~24.9x ^[10]
Macrotrends: ~25.6x ^[11]
MarketBeat “Key Stats”: 27.6x ^[12]

In other words, GameStop is not “cheap” on simple earnings multiples, especially compared with the U.S. specialty retail peer average around 18–19x. ^[13]

The company does not currently pay a dividend, despite some older data feeds still showing legacy dividend figures. Recent stats from major quote services list the dividend yield as “N/A” or 0%. ^[14]

The newest GameStop headlines on November 22, 2025

Several fresh stories are shaping GameStop stock sentiment today:

1. Valuation debate heats up (Simply Wall St – Nov 22)

A new Simply Wall St article published today, November 22, 2025 takes “A Fresh Look at GameStop (GME) Valuation as Retail Interest Returns.” ^[15]

Key points from their analysis:

GME’s year‑to‑date share price return is –34.31%, with a –26.97% total return over the last 12 months.
Over five years, shareholders are still sitting on about 406.88% total return.
One of the most popular community narratives on the platform argues that GameStop is as much as 83% undervalued, with a “fair value” estimate of $120 per share – far above the current ~$20 price.
However, the article also notes that GME’s P/E of ~24.9x is higher than both the U.S. specialty retail industry average (~18.2x) and its peer group (~19.4x), implying investors are paying up for uncertain growth. ^[16]

The takeaway: retail bulls still see massive upside, while more traditional valuation frameworks portray GME as expensive relative to peers.

2. Short interest still high, but easing (Benzinga – Nov 21 / carried into Nov 22)

A Benzinga piece on short interest, re‑circulated on brokerage news feeds this morning, highlights that short sellers are still heavily involved in GME, even as their positions have shrunk slightly. ^[17]

According to the latest exchange data summarized in that article:

Short interest:66.30 million shares sold short
Percent of float sold short:16.21%
Days to cover:9.3 days, based on average trading volume
Change since last report: short interest is down 5.43%, indicating some shorts have covered

For context, Benzinga notes that GME’s short interest as a share of float is far above its peer group average of around 3.8%. ^[18]

This matters because:

Short interest is a widely watched sentiment gauge.
Elevated short interest keeps the possibility of future squeezes alive, especially if a surprise catalyst hits.
The recent decline, however, suggests slightly less outright bearish positioning than earlier in the year.

3. Heavy options trading into the weekend (Futu News – Nov 22)

Options activity around GameStop remains intense. A Futu News “Options Spot‑On” update dated November 22 (covering trading on November 21) reports: ^[19]

About 216,490 GME options contracts traded on Nov 21.
Calls made up roughly 72.8% of that volume, with puts around 27.2%.
Open interest in GME options now stands near 2.03 million contracts.

That skew toward call options suggests speculators are still betting on sharp upside moves, even as the underlying stock hovers just off its 52‑week lows.

How we got here: bounce attempts after fresh 52‑week lows

On Friday, November 21, GameStop shares ticked higher but stayed pinned close to their 52‑week low of $19.93, set just the day before. ^[20]

A Benzinga “why it’s moving” article on November 21 framed the session as an attempted bounce off those lows: ^[21]

GME traded modestly higher intraday, but remained in the low‑$20 range.
The piece highlighted that October’s fireworks in GME – driven more by political memes and social media viral moments than fundamentals – have faded, with investors now refocusing on earnings, Bitcoin exposure and balance‑sheet risk.

One of the biggest October catalysts came when the White House reshared GameStop’s tongue‑in‑cheek “end of console wars” post and posted an AI image of President Donald Trump in Halo’s Master Chief armor, celebrating Halo’s arrival on both Xbox and PlayStation. Multiple outlets report that the meme moment briefly sent GME shares up around 7–8% before gains faded. ^[22]

That episode illustrates a broader pattern:
GameStop stock still reacts sharply to culture‑driven headlines, even when they have little direct impact on cash flows.

Fundamentals check: earnings are improving, but not the whole story

Beneath the memes, GameStop is a real retailer with real financials – and 2025 has actually marked a significant turnaround on paper.

Q2 2025: big revenue jump and a return to profitability

In its official Q2 2025 results (13 weeks ended August 2, 2025), GameStop reported: ^[23]

Net sales:$972.2 million, up from $798.3 million a year earlier (+21.8% YoY)
Net income:$168.6 million, versus $14.8 million in Q2 2024
GAAP diluted EPS:$0.31, up from $0.04
On a basis used by several data providers, EPS is cited around $0.25, still comfortably ahead of the $0.19 consensus estimate at the time

For the first 26 weeks of 2025, the company delivered: ^[24]

Net sales of $1.70 billion, slightly above the $1.68 billion in the first half of 2024
Net income of $213.4 million, compared with a $17.5 million loss a year earlier

Part of that profit improvement comes from operating efficiencies, but a meaningful chunk is also driven by interest income and gains on digital assets (i.e., Bitcoin), which we’ll come back to.

Q1 2025 was rough

The strong Q2 followed a much weaker Q1. Earlier this year, GameStop reported that Q1 2025 revenue fell about 16.9% year over year to roughly $732 million, missing Wall Street expectations and underscoring how fragile the underlying retail business can be. ^[25]

Put together, the first half of 2025 paints a mixed but improving picture:

Core retail remains under pressure from digital distribution and online competition.
However, cost cuts, interest income and Bitcoin gains have flipped the company to profitability – at least for now.

The Bitcoin and convertible‑note strategy: high upside, high risk

One of the defining stories for GameStop stock in 2025 is its pivot into Bitcoin and zero‑coupon convertible notes.

The Bitcoin buy

On March 25, 2025, GameStop announced plans to use its sizable cash reserves to purchase Bitcoin, effectively adopting a hybrid version of the “Bitcoin treasury” strategy made famous by other corporates. ^[26]

Shortly after, crypto‑focused outlets reported that the company:

Purchased 4,710 Bitcoin for about $507 million
Framed the purchase as part of a new treasury management strategy rather than a one‑off trade ^[27]

$1.75B+ in zero‑coupon convertible notes

In June 2025, GameStop followed up with a $1.75 billion offering of 0.00% convertible senior notes due 2032, later expanded via a greenshoe option to around $2.7 billion in total proceeds. ^[28]

Key implications:

The notes carry no cash interest, which reduces near‑term interest expense.
They are convertible into cash, shares, or a mix, at GameStop’s election, at specified conversion prices.
If GME’s share price soars far above those levels, substantial dilution is possible.
Meanwhile, the company now has extra capital for general corporate purposes and potential acquisitions – but it has also increased its leverage and crypto exposure.

That’s why some investors now see GameStop as a hybrid bet on retail + Bitcoin + volatility, not just a traditional video‑game store chain.

Under the hood: store closures and “Trade Anything Day”

The operational story is more sobering than the meme narrative.

According to GameStop’s updated company history, over 400 GameStop stores closed in January 2025 alone, reflecting ongoing pressure as game sales continue to migrate online. It’s the fastest pace of monthly closures the company has ever recorded. ^[29]

To drive engagement and foot traffic, GameStop has leaned into headline‑grabbing promotions like “Trade Anything Day.”

A syndicated CNN / KPLC report from November 18 describes a company event scheduled for December 6, 2025: ^[30]

For one day, customers can bring almost any item (within a 20×20×20 box) to trade for store credit.
Exclusions include hazardous materials, alcohol, tobacco, drugs, pharmaceuticals, live or dead animals, and certain electronics – but, notably, taxidermy is allowed.
GameStop has not yet disclosed exactly how items will be valued, only that they will convert into some form of voucher/credit.

If executed well, Trade Anything Day could generate viral social content and incremental store visits ahead of the holidays. Poor execution, on the other hand, risks reinforcing the “gimmicky” perception some investors already hold.

Short interest and meme DNA: GME is still built for squeezes

Even after the 2021 mania faded, GameStop remains one of the most shorted names in U.S. large‑cap retail.

From the Benzinga short‑interest recap: ^[31]

16.21% of GameStop’s float is sold short.
It would take 9.3 trading days for shorts to cover at average volume.
Short interest has eased ~5.4% since the prior report but remains far above peers (average ~3.8%).

On the options side, Futu data shows day after day of six‑figure options volume, predominantly in calls, with multi‑million‑contract open interest. ^[32]

Taken together, that means:

GME still has the mechanics for a classic squeeze if a bullish catalyst hits while shorts are crowded and call buyers pile in.
At the same time, elevated short interest also indicates a large pool of investors still betting against the business model and/or valuation.

Institutional and insider moves: who’s actually holding GME?

While GameStop is still a retail‑favorite stock, institutional money and insiders are far from absent.

Institutional investors

A new MarketBeat filing summary on November 21, 2025 reports that Connor Clark & Lunn Investment Management Ltd. initiated a fresh position in GME during Q2: ^[33]

They bought 14,333 shares, valued at about $350,000.
Other institutions, including KLP Kapitalforvaltning AS and several U.S. asset managers, have also added or initiated positions this year.
In aggregate, about 29.2% of GameStop’s shares are held by institutional investors. ^[34]

While that’s modest compared with mega‑caps, it’s non‑trivial for a meme‑stock icon and suggests some professional investors are willing to hold exposure – often as a high‑risk satellite position.

Insider activity

That same report notes:

Insiders have sold around 11,788 shares (roughly $321,000 worth) over the past three months.
Executives including the General Counsel and another senior insider sold portions of their holdings in early October at prices around $27.58. ^[35]
Even after these sales, insiders still own about 8.6% of the company. ^[36]

Insider selling at higher prices isn’t unusual, but it does add a cautious note for investors hoping for a near‑term sharp rebound.

Analyst coverage and Wall Street view: still skeptical, and thin

GameStop’s relationship with traditional Wall Street analysts has only grown more strained.

A recent GuruFocus summary notes that Wedbush Securities has dropped coverage of GME, effectively leaving the stock with no major Wall Street bank publishing active ratings or price targets. ^[37]
MarketBeat still tracks two ratings from smaller or independent firms, yielding a consensus “Reduce” rating and an average price target around $13.50, implying roughly 33% downside from the ~$20 level. ^[38]

This combination – very thin coverage, mostly negative, yet enormous social‑media attention – is part of what makes GME such an outlier in public markets.

What’s next: key dates and catalysts to watch

For traders watching GameStop stock today and into December, several catalysts stand out.

1. Q3 2025 earnings (expected December 9)

MarketBeat’s earnings calendar currently lists Q3 2025 results for December 9, after the market close, with: ^[39]

Consensus EPS estimate: about $0.19
Expected revenue: around $972–987 million, roughly in line with Q2’s top line

Another earnings beat with solid guidance could:

Reinforce the turnaround narrative
Support the bullish “undervalued at $20” story many retail investors share
Potentially pressure shorts if accompanied by strong volume and options activity

A miss, or cautious commentary on Bitcoin and store traffic, could just as easily trigger another leg lower.

2. Bitcoin price and crypto sentiment

Because of the 4,710 BTC purchase and the convertible note proceeds partly earmarked for investments, GameStop’s equity is now partly tethered to Bitcoin’s fortunes. ^[40]

A sustained Bitcoin rally would likely boost the value of GameStop’s digital asset holdings and could support the bull case.
A deep crypto drawdown could erode those paper gains, feed volatility into future earnings, and challenge the “treasury strategy” narrative.

3. Trade Anything Day (December 6)

The upcoming Trade Anything Day – where customers can bring almost any item (even taxidermy) for store credit – is a wildcard marketing event just ahead of earnings. ^[41]

If it generates compelling user‑generated content and good turnout, it might signal that GameStop can still mobilize its community into stores, not just online.
If it’s perceived as a flop or chaotic, it risks reinforcing the idea that the brand is chasing stunts instead of delivering consistent execution.

Is GameStop stock a buy right now?

This article can’t tell you what you personally should do with your money, and it shouldn’t be taken as financial advice. But we can outline the main bull and bear arguments investors are weighing today, November 22, 2025.

Bull case in a nutshell

Bulls tend to focus on:

Turnaround in profitability: Q2 and first‑half 2025 show that GameStop can be net‑income positive with the help of cost cuts, interest income and Bitcoin gains. ^[42]
Undervaluation narratives: Some valuation models peg fair value near $120 per share, implying massive upside from ~$20. ^[43]
High short interest + options activity: 16% of float sold short and heavy call buying keeps squeeze potential alive. ^[44]
Strong brand and community: GameStop still commands mindshare with gamers and retail traders, which can amplify any positive catalyst.

Bear case in a nutshell

Bears highlight:

Structural headwinds: Game sales continue shifting online; over 400 stores closed just in January 2025, and more closures are likely. ^[45]
Valuation risk: A P/E in the mid‑ to high‑20s is rich for a challenged retailer, especially relative to peers around 18–19x. ^[46]
Bitcoin and convertibles: The Bitcoin bet and zero‑coupon convertibles add balance‑sheet and dilution risk, tying shareholder outcomes partly to crypto’s boom‑bust cycles. ^[47]
Sparse, negative analyst coverage: With essentially no major Wall Street bulls and a consensus “Reduce” stance, institutional support may remain limited. ^[48]

How to think about GameStop stock today

If you’re evaluating GME on November 22, 2025, a few practical questions to ask yourself:

Am I treating this as a trade or an investment?
- As a short‑term trade, GME is driven by momentum, options flow, social media and news spikes.
- As a long‑term investment, you’re betting on GameStop’s ability to reinvent its retail and e‑commerce business while managing a Bitcoin‑heavy balance sheet.
How comfortable am I with extreme volatility?
- Double‑digit moves in a single day – up or down – are not unusual in this name.
Do I understand the Bitcoin and convertible‑note angle?
- If you’re not comfortable underwriting crypto and capital‑structure risk, GME may not be a good fit.
How concentrated is my portfolio?
- High‑risk names like GameStop are often best kept as small, speculative positions within a diversified strategy, if they fit your risk tolerance at all.

Final word

As of November 22, 2025, GameStop stock is a paradox:

Fundamentally, it’s a small but profitable retailer in the middle of a painful transition, with a controversial Bitcoin‑backed treasury strategy.
Market‑wise, it remains a magnet for meme‑driven speculation, heavy short interest and aggressive options trading.

For traders, that’s precisely what makes GME so compelling – and so dangerous.

If you’re considering any move in GameStop, it’s wise to do your own in‑depth research, stress‑test your assumptions, and, if needed, speak with a qualified financial adviser who understands your specific goals and risk tolerance.

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