ToplineThe value of GameStop’s stock continued to decline on Wednesday after the video game retailer—often the focus of meme stock trading since a viral 2021 rally—reported a decline in sales, dropping the company’s market capitalization by $2 billion.The video game retailer said it would sell 20 million shares to fund future investments and ... [+] acquisitions.Getty Images Key FactsShares for GameStop fell by over 14% to below $20 as of 2:40 p.m. EDT, adding to a 3.3% loss on Tuesday. As of Wednesday’s s ...

GameStop Corp. (GME) posted second-quarter fiscal 2024 results, wherein the top line missed the Zacks consensus estimate and declined year over year. However, the company’s earnings per share surpass estimates and compared favorably with the year-ago figure. Higher inflationary pressures on consumer spending in the gaming industry have been resulting in lower demand and, in turn, weighing on the company’s results.Shares of this Zacks Rank #3 (Hold) company have gained 36.1% in the past year compared with th ...

GameStop Corp (NYSE:GME) stock is near the bottom of the New York Stock Exchange (NYSE) today, last seen down 17.7% to trade at $19.36. The meme stock and video game retailer reported adjusted second-quarter earnings of one cent on $798 million in revenue. While earnings are higher year over year, the revenue was a more than 20% drop from the $1.16 billion figure a year ago. Customers opting to buy video games online hurt GameStop, which relies on the selling of new and used discs in-store. The company also ...

GameStop NYSE: GME posted another smoke-and-mirrors quarter, resulting in a normal market response: a fall. The results reveal a company trying hard to turn itself around but failing miserably and eating itself to death at shareholder expense—insufficient news to spark another meme-quality rally. Because the company has filed to sell another 20 million shares, investors should fear the worst: a move below critical support in the $20 range and a move back to $10, where this stock belongs. Get GameStop alerts ...

GameStop (NYSE: GME) found itself in hot water on September 11, with shares plummeting 15.09% to $19.95 at market open following a shaky Q2 earnings report. While the company managed to beat EPS expectations with a slim $0.01 per share (compared to estimates of a -$0.09 loss), it wasn’t enough to offset other troubling figures.Revenue plunged a staggering 31.9% year-over-year to $790 million, missing expectations by $106 million. Adding to the pain, adjusted EBITDA came in at a negative $18 million, a far c ...

Key TakeawaysGameStop shares plummeted in premarket trading Wednesday after the brick-and-mortar video gamer retailer announced a 20 million share offering and reported a 31% drop in quarterly sales, as consumers continue to pivot from physical discs to digital downloads and game streaming.Wednesday’s projected earnings-driven drop opens the door for a potential breakdown below the lower trendline of a symmetrical triangle.Investors should monitor key post-earnings chart levels at $18.50, $15.25 and $13.25, ...

jetcityimage September 10th ended up being a really painful day for shareholders of video game retailer GameStop (NYSE:GME). After the market closed, the stock plunged roughly 10%. This was in response to disappointing financial results covering the second quarter of the company's 2024 fiscal year. Revenue fell short of expectations, but earnings exceeded what analysts anticipated. Normally, this would not have resulted in such a painful drop in price. However, the magnitude of the drop in sales was sig ...

GameStop (GME) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.01 per share. This compares to loss of $0.03 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 200%. A quarter ago, it was expected that this video game retailer would post a loss of $0.10 per share when it actually produced a loss of $0.12, delivering a surprise of -20%.Over the last four quarters, the compan ...

RiverNorthPhotography Under CEO Ryan Cohen's leadership, GameStop Corp. (NYSE:GME) is attempting to turn around the unprofitable merchandise. While I think Ryan Cohen has done a great job reducing costs and improving profitability, the gaming hardware and software retail market is likely to face strong competition from both game publishers and big retailers such as Walmart Inc. (WMT) and Amazon.com, Inc. (AMZN). As a retailer, GameStop is unlikely to successfully turn around their core business in the futur ...

Key TakeawaysGameStop swung to an unexpected profit in the second quarter, but its sales fell 31% and missed expectations.The meme stock standout struggled Tuesday before its results came out, but the stock is still substantially higher year-to-date.GameStop did not issue guidance, nor did it schedule an earnings call. GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit. Revenue in the latest was ...