What's Going On With GameStop Stock?
Portfolio Pulse from Erica Kollmann
GameStop Corporation (NYSE:GME) shares are trading higher on above-average volume ahead of its Q2 financial results announcement. The company is expected to report a loss of 14 cents per share and revenue of $1.14 billion. Short-sellers continue to target GameStop with 19.12% of available shares being sold short.
September 05, 2023 | 6:03 pm
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NEUTRAL IMPACT
GameStop's stock is trading higher ahead of its Q2 results. The company is expected to report a loss, which could potentially impact the stock negatively. However, the high short interest could lead to a short squeeze, pushing the stock higher.
The stock is trading higher due to anticipation of the Q2 results. The expected loss could potentially drive the stock price down. However, the high short interest indicates that many investors are betting against the stock, which could lead to a short squeeze if the results are better than expected, pushing the stock price higher.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100