NEW YORK (TheStreet) -- GameStop (GME) stock closed at 3.83% to $42.83 today after NPD Group's June 2014 report revealed gamers spent $736.4 million on new physical gaming products at U.S. retailers, up 24% from $593.5 million from the same period last year, and one reason why TheStreet's Jim Cramer is calling it one of the best stocks in video gaming.
NPD analysts said the biggest drivers of revenue were gaming consoles Microsoft's (MSFT) Xbox One and Sony's (SNE) PlayStation 4, but software sales were down despite a strong second month for games 'Watch Dogs' and 'Mario Kart 8.'
Gamers spent $286.8 million on new games at retail in June, down 3% from $296.1 million year-over-year.
Separately, TheStreet Ratings team rates GAMESTOP CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GAMESTOP CORP (GME) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."