GameStop’s management is yet to reveal the details about the turnaround strategy for the business, but they are growing sales and investing in new digital initiatives.
GameStop’s new board continues to quietly turn the business around, but will it reveal any new catalysts to propel the stock higher? We explain what to expect and consider how GameStop shares could react to the next set of earnings.
Investors betting against retail trader favorites GameStop Corp. and AMC Entertainment Holdings Inc. were dealt a serious blow on Wednesday to the tune of about $673 million, according to data from financial analytics firm S3 Partners.
GameStop and AMC, two wildly popular meme stocks among members of Reddit’s WallStreetBets forum, soared more than 16% and 19% respectively as speculative assets picked up steam. Those gains pushed mark-to-market losses for short-sellers to roughly $8.1 billion for the year, according to S3 Partners data.
Bloomberg
The video-game retailer and movie-theater chain have recaptured Wall Street’s attention as analysts speculate retail traders in particular are driving the action. The hashtag #AMC500k continued to trend on Twitter, while mentions on social trading platforms like StockTwits surged.
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GameStop shares ended trading on Monday down 11% at $141.04, giving the company a market value of about $10 billion. The stock hit a record high of $483 in late January