Newegg’s Hot Comeback: Buyers Push NEGG Stock Toward $100 on New Sale
After a volatile summer, Newegg Commerce (NASDAQ: NEGG) is back in the spotlight, rebounding sharply as strong technical support and...
Quick overview
- Newegg Commerce has rebounded sharply, with shares jumping 10% on Thursday and over 60% for the week after a volatile summer.
- The stock has broken above key moving averages, indicating a shift in sentiment and potential for further gains towards $100.
- The recent FantasTech Sale II and new financing options are aimed at boosting customer loyalty and expanding e-commerce reach.
- Concerns over dilution have eased due to insider buying, reinforcing investor confidence and suggesting that the worst of the correction may be over.
After a volatile summer, Newegg Commerce (NASDAQ: NEGG) is back in the spotlight, rebounding sharply as strong technical support and renewed investor enthusiasm reignite bullish momentum.
Momentum Returns After a Wild Summer
Newegg shares jumped 10% on Thursday and over 60% for the week, marking a powerful comeback after months of erratic trading. Earlier in the summer, the stock plunged nearly 78% — from $138 to $30 — before finding solid support at the 100-day moving average, which triggered an impressive rebound to around $60.
NEGG Chart Daily – Buyers Broke Above the Range Finally
After weeks of consolidation, NEGG has now broken decisively above the 50-day SMA and its September highs, confirming a shift in sentiment. The stock briefly traded above $80 this week, with traders eyeing a potential move toward $100, and possibly a retest of record highs above $130 if momentum holds.
New Sales and Financing Push Lift Outlook
The rally coincides with Newegg’s latest FantasTech Sale II, running from October 6 to 12, featuring massive tech discounts across 60+ categories. The campaign, alongside a 4% cashback store credit card and new financing options through Credit Key, reflects Newegg’s push to strengthen customer loyalty and expand its e-commerce reach.
These promotions arrive as the company seeks to convert retail excitement into consistent sales growth, appealing to both tech consumers and business buyers.
Confidence Rebuilds After Dilution Fears
Earlier concerns over Newegg’s $65 million equity offering in July have faded, helped by insider buying — including $18 million in purchases by major shareholder Galkin. This vote of confidence, paired with steady support from long-term technical levels, has reassured investors wary of dilution and market volatility.
The stock also gained attention after the launch of its 2,300-square-foot Gamer Zone at headquarters, reinforcing the company’s position in the PC and gaming community.
Technical Setup Points to Further Upside
With support holding near key moving averages and buying momentum accelerating, Newegg’s chart now signals room for continued upside. The broader trend suggests that speculative interest is returning — a sign that the worst of the correction may be behind it.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save