GameStop rallies in early action

Shares of GameStop (GME) race higher in premarket trading.

Fresh data from NPD on sales of the PS4 and Xbox One is out, although at first glance it doesn't appear to be wildly positive for GameStop with hardware sales outperforming expectations for software sales.

BofA reiterates its Buy rating on the retailer and says the console upgrade cycle is off to a strong start.

GME +7.5% premarket.

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