What's Going On With GameStop Stock Tuesday?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) is in focus as it prepares to report its Q4 financial results after market close on Tuesday. Expected earnings are 29 cents per share on $2.05 billion in revenue. Last quarter, GME reported an earnings loss and missed revenue estimates but ended with $1.21 billion in cash and securities. A new investment policy allows CEO Ryan Cohen to manage the company's security investments. No conference call details were provided, continuing a trend from the past three quarters. GME shares surged over 15% on Monday.
March 26, 2024 | 1:44 pm
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GameStop is set to report Q4 earnings with an expected EPS of 29 cents on $2.05 billion revenue. Last quarter's miss and a new investment policy highlight the report. Shares surged 15% ahead of the announcement.
The anticipation of GameStop's Q4 earnings, especially following a significant earnings surprise in the same quarter last year, has already positively impacted its stock price, as seen by the 15% surge on Monday. The introduction of a new investment policy allowing CEO Ryan Cohen to manage the company's security investments could be seen as a strategic move to bolster investor confidence, potentially leading to further positive short-term price movement. However, the lack of a conference call might temper some investor enthusiasm.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100