Core Insights - GameStop experienced a resurgence in stock price due to renewed interest from investors, particularly following cryptic posts from Keith Gill, leading to significant volatility in the stock market [1][2] - The company issued 45 million new shares on May 17 to raise cash for debt management, which has proven effective as GameStop announced the termination of a $250 million debt on August 28 [1][5] - Despite recent stock price declines, GameStop's shares are still up 19.38% year-to-date [4] Financial Performance - GameStop's stock price surged from approximately $16 to nearly $50 between May and June, causing short-sellers to incur losses of nearly $2 billion [2] - The company reported a cash pile of $4 billion after raising $900 million from the issuance of 45 million shares, along with an additional 75 million shares issued in its Q1 earnings report [5] - The termination of the $250 million loan is expected to enhance the company's investment grade and alleviate the burden of debt and interest in upcoming earnings reports [6]

Nvidia‘s (NASDAQ: NVDA) highly expected Q2 earnings report on August 28 after the market closes has sparked speculation among the stock trading community about the semiconductor maker’s future, with some traders betting on a bearish outcome.Looking at the call options for Nvidia stock, the third largest open interest position is a $125 put option with an expiry date of September 20, contrary to the $280 calls with the same expiry date being the largest. The cumulative open interest for this call option is 2 ...

Though experts and analysts tend to look favorably upon Tesla (NASDAQ: TSLA) with, for example, Jim Cramer recently calling it a ‘strong stock’ and expressing his belief that Elon Musk managed to turn the car manufacturer into a true technology giant, not all are as optimistic about the electric vehicle (EV) maker.Gordon Johnson, the founder and CEO of GJL Research, recently took to X to explain why the hopes that Tesla will dominate the sector – and that TSLA will dominate the stock market – as it did in t ...

As investors worldwide are waiting for the new quarterly earnings report from the technology behemoth Nvidia (NASDAQ: NVDA), analysts from Goldman Sachs (NYSE: GS) believe the report could trigger a $300 billion swing in its market value – in either direction.Specifically, the finance experts have observed that Nvidia stocks could witness a significant $298 billion swing in market value upon publishing the earnings results on August 28, according to a recent note from Goldman Sachs’ trading desk, Business I ...

Continuing in line with his recent trend of selling Bank of America (NYSE: BAC) shares, Warren Buffett, CEO and founder of Berkshire Hathaway (NYSE: BRK.A), offloaded nearly $1 billion worth of BAC shares in just three trading days.After selling $4.36 billion worth of Bank of America shares in trades from July 22 to August 19, the ‘Oracle of Omaha’ decided to speed up his offloading process by selling 24.7 million BAC shares worth $981.9 million in three trading days spanning from August 23 to August 27, as ...

Although Nvidia (NASDAQ: NVDA) is expected to surpass analysts’ Q2 2024 earnings, some investors are exhibiting bearishness ahead of the call.In particular, data shared by Trend Spider in an X post on August 27 highlighted unusual options activity. It revealed a notable amount of bearish call selling, suggesting that traders are preparing for a potential downside move in Nvidia’s stock.A snapshot of unusual options activity from August 21 to August 27 highlights options contracts with $1 million or more pre ...

Core Viewpoint - Advance Auto Parts (AAP) experienced a significant decline in stock price after a strong start in 2024, leading to a substantial loss for investors like Michael Burry, who managed to sell his shares before the downturn [1][2]. Group 1: Stock Performance - AAP shares were up 36% year-to-date by the end of Q1 2024, generating approximately $3 million in profit for Michael Burry [1]. - By August 28, 2024, AAP's stock had retraced almost 50% from its earlier highs, with the price dropping from around $80 in early April to $47.67 [1][2]. - The stock was approximately $63 on the last day of June 2024, indicating a significant decline from its peak [2]. Group 2: Investment Decisions - Michael Burry's timely sale of AAP shares allowed him to avoid potential losses, with estimates suggesting he could have saved up to $3 million had he sold in early April [2]. - Even if he sold at the end of Q2 2024, he would have avoided $1 million in losses due to the disappointing earnings report released in late August [4]. - Burry's original investment in AAP consisted of 70,000 shares, purchased when the stock was trading between $48 and $65 in Q4 2023, indicating a profitable trade unless he sold at the lowest point in Q2 2024 [5][6].

While the stock recommendation track record of the energetic host of Mad Money – Jim Cramer – is, in fact, sold, he has also made a fair share of significant mistakes.Many of his blunders have proven notable – either by the magnitude of the stock market’s move or the suddenness with which his predictions prove untrue – leading to the emergence of the internet meme known sometimes as the ‘Cramer Curse.’The latest victim of the so-called ‘Cramer Curse’ appears to be Elon Musk’s electric vehicle (EV) maker, Te ...

One of legendary investor Michael Burry’s top five holdings, JD.com (NASDAQ: JD), announced on August 27 a $5 billion share repurchase program.The share buyback program, which will last from September 2024 through August 2027 and include American depositary shares (ADS), aims to rekindle investors’ confidence in the face of growing competition in the Chinese e-commerce sector.This program will be another positive development after JD.com posted a beat of its profit forecasts for Q2 on August 15 and will ser ...

Although Nvidia’s (NASDAQ: NVDA) stock is one of the best performers in the stock market in 2024, heavy insider selling activity, especially before its August 28 Q2 earnings report, is worrying some investors.Namely, its CEO Jensen Huang sold over $128.2 million worth of Nvidia shares in five different transactions in the previous 30 days; notably, all transactions included the same number of shares sold—240,000.Huang’s sale of Nvidia stock in the past 30 days. Source: Barchart Huang sells over half a billi ...