GRAPEVINE, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the second quarter ended August 3, 2024. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at https://investor.gamestop.com. SECOND QUARTER OVERVIEW Net sales were $0.798 billion for the second quarter, compared to $1.164 billion in the p ...

Facade with sign and logo at Game Stop video gaming store in Dublin, California, August 23, 2018. ... [+] (Photo by Smith Collection/Gado/Getty Images)Getty ImagesGame Stop is scheduled to report earnings after Tuesday’s close. The stock hit a record high of $120.75/share in 2021 and is currently trading near $23. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down. To help you prepare, ...

Company Overview - GameStop is a $10 billion company with declining revenue and no earnings, lacking a viable plan for improvement [2] - The company has issued billions in new shares, resulting in a strong balance sheet with approximately $4 billion in cash [5] Financial Performance - GameStop's revenue is projected to be lower this year and next compared to previous years, raising concerns about its attractiveness as an investment [5] - Gross margins have improved in recent quarters, but operating margins are still challenged by rising SG&A costs [6] Market Trends - The stock has shown a symmetrical triangle pattern, indicating potential for a significant price movement, likely downward [3] - The accumulation/distribution line indicates more distribution than accumulation, suggesting bearish sentiment [3] Strategic Initiatives - GameStop is exploring retro locations to attract customers, but there are doubts about the effectiveness of this strategy [5] - The company needs to clarify its strategy for its underperforming stores and how it plans to utilize its cash reserves [6] Valuation Concerns - The stock is currently valued at approximately 2.4X forward sales, which is considered extremely high given the company's unprofitability [8] - A more reasonable valuation might be around 0.5X sales, indicating significant downside potential [8]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team operates from key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] - Proactive focuses on medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [2] Group 2 - The company specializes in various sectors including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [2] - Proactive adopts technology enthusiastically, utilizing decades of expertise and experience among its content creators [2] - Automation and software tools, including generative AI, are occasionally used, but all content is edited and authored by humans [3]

GameStop (GME) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this video game retailer have returned +2.9%, compared to the Zacks S&P 500 composite's +6.2% change. During this period, the Zacks Gaming industry, which GameStop falls in, has gained 8.9%. The key question now is: What could be the stock's future direction?While media releases or rumo ...

GameStop TodayGMEGameStop$22.37 +0.25 (+1.13%) 52-Week Range$9.95▼$64.83P/E Ratio279.66Price Target$11.00Add to WatchlistGameStop NYSE: GME shares are up more than 17% from the late-August low, confirming support at a critical level, and they may head higher. Is this stock buyable at these levels? The answer is maybe, but it depends on your risk tolerance and expectations. Given the recent results, there has been no shift in fundamental quality or hope for one. Investors should stay on the sidelines and enj ...

Key TakeawaysGameStop reports earnings after the closing bell on Tuesday, Sept. 10, with analysts expecting lower revenue and a slightly larger net loss than the second quarter of 2023.Comparable store sales are also projected to decline significantly, by about 23% compared to the same time last year.After massive fluctuations in price earlier this year due to Keith Gill, a key figure in the original meme stock trend, GameStop stock has had a much less volatile last few months. GameStop (GME) reports quarte ...

Though primarily associated with the 2021 meme stock craze – and, by extension, with companies like GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) – r/WallStreetBets has long since moved on to greener pastures and found its new favorite companies.Data tracking stock mentions on the subforum on the popular message board Reddit (NYSE: RDDT) reveals that, in the last 30 days, none have been as frequently mentioned as the semiconductor giant Nvidia (NASDAQ: NVDA).r/WSB most mentioned stocks in the last ...

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]

GRAPEVINE, Texas, Aug. 27, 2024 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it will report second quarter fiscal 2024 results after the market closes on Tuesday, September 10, 2024. Contacts GameStop Corp. Investor Relations(817) 424-2001ir@gamestop.com ...