Latest news with #memeStock
Forbes
4 days ago
- Business
- Forbes
How Will GameStop Stock React To Its Upcoming Earnings?"
CANADA - 2025/05/29: In this photo illustration, the GameStop (Game Stop) logo is seen displayed on ... More a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) Meme stock – GameStop (NYSE:GME) – is set to release its earnings on Tuesday, June 10, 2025. Historically, GameStop's stock has exhibited a favorable one-day return in 55% of cases following earnings announcements over the last five years. The average positive return has been 10.2%, with the highest one-day gain reaching 35.2%. For traders focused on events, grasping these historical trends can prove advantageous, although actual outcomes relative to consensus estimates will largely dictate the stock's trajectory. Here are two strategies for trading GameStop's earnings: GameStop has considerably broadened its operations beyond conventional brick-and-mortar video game sales. The company now provides a mix of physical and digital products, including consoles, collectibles, and digital games, and has even entered the realm of cryptocurrency investments, notably acquiring 4,710 bitcoins recently, valued at over $500 million. For the forthcoming earnings report, analysts forecast earnings of $0.08 per share with sales totaling $754 million. This stands in contrast to a loss of $0.12 per share on sales of $882 million during the same quarter last year. From a fundamental perspective, GameStop has a market capitalization of $13 billion at present. Over the past twelve months, the company recorded revenue of $3.8 billion, an operating loss of $16 million, and a net income of $131 million. That said, if you are seeking potential upside with less volatility than individual stocks, the Trefis High Quality portfolio offers an alternative — it has outperformed the S&P 500 and yielded returns exceeding 91% since its launch. Additionally, check out – Is CRWD Stock Overvalued At $460? See earnings reaction history of all stocks Some insights into one-day (1D) post-earnings returns: Additional information regarding observed 5-Day (5D) and 21-Day (21D) returns following earnings is compiled in the table below. GME 1D, 5D, and 21D Post-Earnings Return A relatively lower-risk strategy (although ineffective if the correlation is minimal) involves understanding the relationship between short-term and medium-term returns post earnings, identifying a pair with the strongest correlation, and executing the suitable trade. For instance, if 1D and 5D display the highest correlation, a trader can position themselves 'long' for the next 5 days if the 1D post-earnings return is positive. Below is some correlation data based on both 5-year and 3-year (more recent) history. Note that the correlation 1D_5D indicates the correlation between 1D post-earnings returns and subsequent 5D returns. GME Correlation Between 1D, 5D and 21D Historical Returns Occasionally, the performance of peers can affect the stock's reaction after earnings are reported. Indeed, the market's pricing may start prior to the earnings announcement. Below is some historical data comparing GameStop's post-earnings performance with the stock performance of peers that reported earnings just before GameStop. For a fair comparison, peer stock returns also denote post-earnings one-day (1D) returns. GME Correlation With Peer Earnings Discover more about Trefis RV strategy that has outperformed its all-cap stocks benchmark (comprising all 3: the S&P 500, S&P mid-cap, and Russell 2000), resulting in substantial returns for investors. Furthermore, if you're looking for upside with a smoother experience than an individual stock like GameStop, consider the High Quality portfolio, which has outperformed the S&P and achieved >91% returns since its inception.
CBS News
28-05-2025
- Business
- CBS News
GameStop purchases more than $500 million in bitcoin in first crypto push
GameStop on Wednesday announced it has bought 4,710 bitcoin, worth over $500 million, as the video game retailer makes its first major foray into cryptocurrency. GameStop's stock price jumped 92 cents, or 2.6%, to $35.97 before the start of trade Wednesday. The shares, dubbed a "meme stock" in recent years as retail investors piled into the company despite its lack of profits, has surged more than 84% over the last 12 months. —This is a developing story and will be updated.
CBS News
28-05-2025
- Business
- CBS News
GameStop purchases $500 million in bitcoin in first crypto push
Video game retailer GameStop on Wednesday announced it has bought 4,710 bitcoin, worth over $500 million, in its first big crypto push. GameStop's stock price jumped 92 cents, or 2.6%, to $35.97 before the start of trade Wednesday. The shares, dubbed a "meme stock" in recent years as retail investors piled into the company despite its lack of profits, has surged more than 84% over the last 12 months. —This is a developing story and will be updated.
Forbes
28-05-2025
- Business
- Forbes
GameStop Rallies After Buying $513 Million In Bitcoin
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 in recent weeks as regulatory concerns ease. The video game retailer previously said it would add bitcoin as a "treasury reserve asset." 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. GameStop said in March the retailer's board unanimously approved an update to its investment policy to add bitcoin as a 'treasury reserve asset.' This is a developing story and will be updated.
Bloomberg
12-05-2025
- Business
- Bloomberg
Webull Founder Wealth Tops $5 Billion as SPACs Return
The founder of a brokerage known for its retail trader enthusiasts is benefiting from his company's own meme stock moment. Webull Corp. shares soared more than 500% in its first two days of trading, giving founder Anquan Wang a $5.2 billion fortune on paper, before paring some of those gains Tuesday morning. Wang's co-founder, Jun Yuan, owns shares worth an additional $1.9 billion.
