GameStop's Stock Plunge Signals Potential Turnaround

GameStop (GME) has experienced a significant decline of 19.4% over the past four weeks, but there are indications that the stock may be ripe for a turnaround. The Relative Strength Index (RSI) reading of 29.62 suggests that the heavy selling pressure could be exhausting itself, potentially leading to a rebound. Additionally, there is strong agreement among Wall Street analysts that GameStop will report better earnings than previously predicted. The stock currently holds a Zacks Rank #1 (Strong Buy), further supporting the potential for a turnaround in the near term.