What's Going On With GameStop (GME) Shares
Portfolio Pulse from Henry Khederian
GameStop (GME) shares are trading higher by 6.29% to $24.10 following the company's Q1 results and the appointment of Ryan Cohen as executive chairman. Q1 net sales were $1.237 billion, down from $1.378 billion last year, and below the estimated $1.36 billion. The company reported a net loss of $50.5 million and an EPS of -14 cents, missing the consensus estimate of -12 cents.
June 12, 2023 | 7:41 pm
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GameStop shares are up 6.29% following Q1 results and Ryan Cohen's appointment as executive chairman. The company reported lower net sales and a larger net loss than expected.
GameStop's stock price is likely to go up in the short term due to the positive market reaction to the Q1 results and Ryan Cohen's appointment as executive chairman. However, the company's lower-than-expected net sales and larger net loss may limit the stock's upside potential.
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