What's Going On With GameStop Stock Ahead Of Earnings?
Portfolio Pulse from Erica Kollmann
GameStop (NYSE:GME) shares are trading higher ahead of its Q2 earnings report, with analysts expecting a loss of 9 cents per share on $895.67 million in revenue. The stock has been volatile around earnings, and recent social media activity by Roaring Kitty has fueled speculation and trading activity.
September 09, 2024 | 4:00 pm
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POSITIVE IMPACT
GameStop shares are experiencing increased trading activity and price movement ahead of its Q2 earnings report, driven by social media speculation and options trading. Analysts expect a loss of 9 cents per share on $895.67 million in revenue.
GameStop's stock is likely to be volatile due to the upcoming earnings report and recent social media activity by Roaring Kitty. The historical volatility around earnings and the significant options trading suggest a potential upward movement in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Speculation around Roaring Kitty's social media post suggests a potential closing of his position in Chewy, Inc. This has indirectly influenced trading sentiment in GameStop.
While the article mentions speculation about Roaring Kitty's position in Chewy, the direct impact on Chewy's stock is minimal. The focus remains on GameStop, with Chewy being mentioned in passing.
CONFIDENCE 70
IMPORTANCE 30
RELEVANCE 20