About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

GameStop's stock rose by more than 3% in premarket trading to over $36, following an earlier announcement the retailer purchased 4,710 bitcoins valued at just over $513 million as of bitcoin's price of roughly $109,000 Wednesday morning. The video game retailer previously said it would add bitcoin as a "treasury reserve asset." Shares of GameStop popped in early trading Wednesday, after the video game retailer and meme stock announced a $513 million purchase of bitcoin, which has surged to new record highs ...

A general view of the GameStop logo on one of its stores in the city center of Cologne, Germany.GameStop said Wednesday it has officially bought 4,710 bitcoins, worth more than half a billion dollars, as the video game retailer began its crypto purchasing plan in a similar move made famous by MicroStrategy.The purchase, its first investment in bitcoin, was worth $512.6 million with bitcoin's price of $108,837 Wednesday. The world's largest cryptocurrency has been on a tear lately, hitting a record high near ...

智通财经5月28日电，游戏驿站宣布购买了4710枚比特币。 ...

Group 1: Stock Performance - GameStop (GME) closed at $27.89, reflecting a -1.97% change from the previous session, underperforming compared to the S&P 500's daily gain of 0.09% [1] - Over the last month, GameStop's shares increased by 6.24%, lagging behind the Consumer Discretionary sector's gain of 19.62% and the S&P 500's gain of 13.05% [1] Group 2: Earnings Expectations - Analysts anticipate GameStop will report an EPS of $0.08, representing a 166.67% increase compared to the same quarter last year [2] - The consensus estimate for revenue is $750 million, indicating a 14.95% decrease from the same quarter of the previous year [2] Group 3: Full Year Projections - For the full year, earnings are projected at $0.47 per share, reflecting a +42.42% change from the prior year, while revenue is expected to be $3.4 billion, showing a -11.06% change [3] Group 4: Analyst Estimates and Outlook - Recent modifications to analyst estimates for GameStop reflect shifting short-term business dynamics, with positive changes indicating a favorable outlook on the company's health and profitability [4] - Changes in estimates are linked to upcoming stock price performance, suggesting that investors can leverage this information [5] Group 5: Zacks Rank and Valuation - GameStop currently holds a Zacks Rank of 1 (Strong Buy), with a historical average annual return of +25% for stocks rated 1 since 1988 [6] - The company is trading at a Forward P/E ratio of 60.53, which is a premium compared to the industry's average Forward P/E of 20.69 [7] Group 6: Industry Context - The Gaming industry, part of the Consumer Discretionary sector, has a Zacks Industry Rank of 143, placing it in the bottom 43% of over 250 industries [7] - The Zacks Industry Rank assesses the strength of industry groups, with top-rated industries outperforming the bottom half by a factor of 2 to 1 [8]

GameStop Corp. (GME) , which sparked the meme-stock revolution, continues to defy conventional market logic. While its fundamentals have yet to catch up with its lofty valuation, retail investor enthusiasm remains strong. Even amid sharp swings and uncertainty over its future trajectory, GME still trades at a premium. As speculative interest lingers, investors are once again at a crossroads: Should you buy into the hype, hold out for more gains or exit before the momentum fades?From a valuation standpoint, ...

GameStop (GME) ended the recent trading session at $27.59, demonstrating a +0.47% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.1%.Coming into today, shares of the video game retailer had gained 26.37% in the past month. In that same time, the Consumer Discretionary sector lost 4.33%, while the S&P 500 lost 4.29%.Analysts and investors alike will be keeping a close ...

Core Viewpoint - Ryan Cohen, CEO of GameStop, is facing a lawsuit from Bed Bath & Beyond to recover $47.2 million in profits from stock trading prior to the retailer's bankruptcy [1][4]. Group 1: Lawsuit Details - The lawsuit claims Cohen and his RC Ventures bought and sold more than a 10% stake in Bed Bath & Beyond within six months, making them liable for "short-swing" profits as insiders [1][4]. - US District Judge Naomi Reice Buchwald stated that Bed Bath & Beyond had disclosed its stock buyback program, questioning the credibility of Cohen's claim that he was unaware of his stake exceeding 10% [4]. - Cohen sold his Bed Bath stake in August 2022, realizing an estimated profit of $60 million [4][8]. Group 2: Background Information - Bed Bath & Beyond filed for bankruptcy in April 2023, and its name and trademarks were later acquired by Overstock.com, which is now known as Beyond [8]. - Cohen is recognized as a prominent figure in the meme stock phenomenon, which gained traction among retail investors in early 2021 [6]. - A previous lawsuit by former Bed Bath shareholders regarding Cohen's profits was dismissed due to the bankruptcy, which rendered their claims moot [8].

U.S. stock markets have been witnessing extreme volatility and one of the worst-performing phases in the last four trading sessions. The Dow fell more than 4,500 points during this period. The tech-heavy Nasdaq Composite plunged 13% in the last four days. The tech-laden index entered bear market territory, sliding more than 20% from its recent high. The S&P 500 fell more than 12% in the last four days and is currently in correction zone. Moreover, Wall Street’s broad-market index has tumbled almost 19% from ...

Core Viewpoint - GameStop (GME) is seen as an attractive investment due to a significant improvement in its earnings outlook, with analysts raising their earnings estimates, which may lead to continued stock momentum [1][2]. Earnings Estimate Revisions - The upward trend in earnings estimate revisions indicates growing analyst optimism regarding GameStop's earnings prospects, which is expected to positively impact its stock price [2]. - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has shown that stocks with a Zacks Rank 1 have generated an average annual return of +25% since 2008, highlighting the potential for GameStop [3]. - There has been strong consensus among analysts in raising earnings estimates for GameStop, significantly increasing the consensus estimates for the next quarter and the full year [3]. Current Quarter and Year Estimates - For the current quarter, GameStop is expected to earn $0.08 per share, reflecting a year-over-year increase of +166.67%. The Zacks Consensus Estimate has risen by 166.67% over the last 30 days, with one estimate moving higher and no negative revisions [6]. - For the full year, the earnings estimate stands at $0.47 per share, representing a change of +42.42% from the previous year. The trend for current year estimates is also positive, with one estimate moving higher and no negative revisions [7]. Zacks Rank and Investment Potential - The favorable estimate revisions have led GameStop to achieve a Zacks Rank 1 (Strong Buy), indicating strong potential for outperformance compared to the S&P 500 [8]. - Investors have shown confidence in GameStop, as evidenced by an 8.3% gain in the stock over the past four weeks, driven by solid earnings growth prospects [9].