What's Going On With GameStop Stock?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) shares have seen an 11% increase on Monday, contributing to a more than 25% gain over the past five trading days. The rise is attributed to strong retail interest, possibly bolstered by successful Black Friday and Cyber Monday sales. Investors are also reacting to the anticipation of GameStop's earnings report, expected after market close on December 6, with an estimated loss of 8 cents per share and revenue of $1.18 billion. Last quarter, GameStop exceeded expectations with a loss of 3 cents per share on revenue of $1.16 billion.
December 05, 2023 | 2:19 pm
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GameStop's stock has risen significantly, likely due to retail interest and positive sales during Black Friday and Cyber Monday. Investors are focused on the upcoming earnings report, which may cause further volatility.
The recent increase in GameStop's stock price is directly related to retail interest and the anticipation of the earnings report. Given the stock's history of volatility around earnings and the significant gains leading up to the report, there is a high likelihood of continued short-term price movement. However, the actual earnings results will ultimately determine the direction.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100