What's Going On With GameStop Stock On Monday?
Portfolio Pulse from Anusuya Lahiri
GameStop Corp (NYSE:GME) shares are trading higher in the premarket on Monday after a volatile session last Friday, where the stock closed 39% lower following disappointing fiscal first-quarter earnings and a lackluster livestream by Keith Gill. The company reported net sales of $881.8 million, missing analyst estimates, and an EPS loss of $(0.12). GameStop also announced an at-the-market offering program for up to 75 million shares. Investors can gain exposure to GameStop via iShares Core S&P Mid-Cap ETF (NYSE:IJH) and SPDR MidCap Trust Series I (NYSE:MDY).
June 10, 2024 | 1:41 pm
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NEUTRAL IMPACT
GameStop shares are trading higher in the premarket after a volatile session last Friday, where the stock closed 39% lower following disappointing fiscal first-quarter earnings and a lackluster livestream by Keith Gill. The company reported net sales of $881.8 million, missing analyst estimates, and an EPS loss of $(0.12).
The stock is experiencing volatility due to mixed signals: a significant drop last Friday due to poor earnings and a disappointing livestream, but a premarket rebound suggests some investor optimism. The at-the-market offering program could dilute shares, adding to the uncertainty.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Keith Gill, also known as Roaring Kitty, expressed his backing for GameStop CEO Ryan Cohen during a YouTube livestream on Alphabet Inc's platform.
The mention of Alphabet Inc (GOOG) is peripheral, related to the platform used for the livestream. This has minimal direct impact on Alphabet's stock price.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Keith Gill, also known as Roaring Kitty, expressed his backing for GameStop CEO Ryan Cohen during a YouTube livestream on Alphabet Inc's platform.
The mention of Alphabet Inc (GOOGL) is peripheral, related to the platform used for the livestream. This has minimal direct impact on Alphabet's stock price.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20
NEUTRAL IMPACT
Investors can gain exposure to GameStop stock via iShares Core S&P Mid-Cap ETF (NYSE:IJH).
The ETF's performance may be slightly influenced by GameStop's volatility, but the overall impact is limited due to the diversified nature of the ETF.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Investors can gain exposure to GameStop stock via SPDR MidCap Trust Series I (NYSE:MDY).
The ETF's performance may be slightly influenced by GameStop's volatility, but the overall impact is limited due to the diversified nature of the ETF.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30