GameStop Corp. ($GME) Stock Forecast: Down 13.3% Today

What is GameStop Corp.?

GameStop (NYSE: GME) is a video game retailer that has been at the center of significant market volatility due to retail investor interest and short squeeze situations.

Why is GameStop Corp. going down?

GME stock is down 13.3% on Sep 11, 2024 19:41

• GameStop (GME) experienced a bearish movement after its second-quarter earnings report:
• Revenue miss for the 2024 fiscal year second quarter, with reported revenue of $798 million falling short of analysts' estimates.
• Year-over-year sales declines across all major categories, including hardware, software, and collectibles.
• An analyst suggested operational changes for GameStop, including the potential closure of all stores to manage losses and a shift towards operating as a bank, questioning the company's premium valuation against cash reserves.
• The disappointing earnings report and revenue figures resulted in a sharp pre-market drop of nearly 11% in GameStop shares.
• Market sentiment towards GameStop turned negative due to weak sales performance and concerns about the company's strategic direction, leading to a significant sell-off in the stock.

GME Price Chart

GME News

What's Going On With GameStop Shares Wednesday? - GameStop ( NYSE:GME )

GameStop Corporation GME shares are moving lower on Wednesday after the company reported a revenue miss for the 2024 fiscal year second quarter. What Happened: The company reported revenue of $798 million missing analysts estimate of $895.67 million.

https://www.benzinga.com/news/24/09/40817976/whats-going-on-with-gamestop-shares-wednesday

GameStop Q2 Earnings Beat Amid Y/Y Sales Dips Across All Categories

GME's Q2 net sales fall y/y, with declines across all major categories, including hardware, software and collectibles.

https://www.zacks.com/stock/news/2334844/gamestop-q2-earnings-beat-amid-yy-sales-dips-across-all-categories

GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses: 'We Do Not See Why Shares Trade At 2x Cash' - GameStop ( NYSE:GME )

A GameStop Corporation GME analyst is questioning why the video game retailer is trading at a premium to its cash as it works through managing operating losses, but provided no strategy in its second-quarter earnings report.

https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40816734/gamestop-analyst-says-retailer-could-close-all-stores-operate-as-bank-to-manage-los

GameStop Reports Weak Sales, Joins Petco, Relay Therapeutics And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session - GameStop ( NYSE:GME )

U.S. stock futures were lower this morning, with the Dow futures falling around 150 points on Wednesday. Shares of GameStop Corp. GME fell sharply in today's pre-market trading following second-quarter results.

https://www.benzinga.com/news/24/09/40812089/gamestop-reports-weak-sales-joins-petco-relay-therapeutics-and-other-big-stocks-moving-lower-in-wedn

GameStop Shares Tumble 11% In Premarket: What's Behind The Sudden Drop? - GameStop ( NYSE:GME )

GameStop Corp. GME shares fell nearly 11% on Wednesday during pre-market trading after the company reported disappointing second-quarter revenue figures. GameStop's net sales for the quarter were $798.0 million, falling short of the $895.7 million consensus estimate.

https://www.benzinga.com/news/24/09/40809198/gamestop-shares-tumble-11-in-premarket-whats-behind-the-sudden-drop

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GameStop Corp. Price History

30.07.2024 - GME Stock was up 5.3%

• A majority of financial experts expressed optimism towards GameStop, with 77% of traders being bullish on the stock.
• Following the announcement of GameStop's shift towards vintage games and consoles, the stock price surged by 10%, indicating a favorable response from the market to this new strategy.
• The market's enthusiastic response to GameStop's plan to focus on retro stores has driven the bullish movement in the stock.
• The positive market reception to GameStop's strategic shift underscores the impact of key business decisions on investor sentiment and stock performance.

30.07.2024 - GME Stock was up 6.6%

• GameStop's stock price increased by 10% recently following the announcement of plans to open retro game stores, catering to the rising demand for vintage games and consoles.
• The move towards retro stores might be interpreted as a strategic decision to broaden its product range and appeal to a different customer base, leveraging the nostalgia for classic gaming.
• This news likely boosted investor confidence and contributed to the positive momentum in the stock price, hinting at potential revenue growth and innovation prospects for the company.
• The choice to terminate the credit facility and depend on operational cash and available funds could be received well by investors, illustrating financial caution and independence.

29.07.2024 - GME Stock was up 8.8%

• GameStop's plans to open Retro locations likely generated investor excitement and optimism about the company's potential for growth and innovation in the gaming industry.
• The termination of the credit facility and the focus on retro stores suggest a strategic pivot by GameStop to capitalize on gaming nostalgia and possibly enhance its financial position.
• The positive sentiment around GameStop today may have been bolstered by news of the company's emphasis on new initiatives and operational changes, indicating a move towards a more sustainable business model.
• The market's positive response to GameStop's developments today could also be driven by broader market trends and investor sentiment towards the retail sector and gaming industry.

29.07.2024 - GME Stock was up 5.3%

• GameStop's announcement of opening retro locations seems to have sparked investor interest and optimism in the company's strategic shift.
• The decision to end the $250 million credit facility voluntarily might indicate that GameStop is confident in its financial position and future prospects.
• The anticipation surrounding GameStop's upcoming Q2 earnings, especially with the uncertainty of the quarter ahead, could be driving bullish sentiment among investors.
• The overall positive sentiment towards GameStop, coupled with the company's strategic moves and financial decisions, likely contributed to the strong bullish movement in the stock today.

03.08.2024 - GME Stock was down 5.0%

• Despite positive news about GameStop's plans to open retro game stores, the stock experienced a bearish movement, closing lower for the day.
• The bullish options trading trends and the announcement of retro locations may have initially boosted investor sentiment but were not enough to sustain the upward momentum.
• The upcoming second-quarter earnings report scheduled for release could be causing uncertainty and profit-taking among investors, leading to the bearish movement.
• It's essential to monitor how the market reacts to the earnings report to gauge the stock's future direction.

27.07.2024 - GME Stock was down 5.1%

• Despite the bullish stance taken by investors with significant capital, GameStop faced bearish sentiment, leading to a downward movement in the stock.
• GameStop CEO Ryan Cohen's recruitment efforts for top product and graphic designers, although promising, did not immediately affect the stock price.
• Ongoing class action lawsuits against GameStop may have heightened investor concerns, contributing to the bearish trend.
• The announcement regarding the limited availability of the 2TB Galaxy Black Xbox Series X for preorder potentially diverted attention from GameStop, impacting its stock performance as investors turned towards other gaming-related opportunities.

05.08.2024 - GME Stock was down 5.5%

• Despite recent positive developments such as terminating a credit facility and plans to release earnings, GameStop experienced a bearish movement today.
• The bullish options trading trends and the announcement of venturing into selling vintage games and consoles did not seem to have a lasting positive impact on the stock.
• It appears that investors may be reacting to broader market conditions or specific news not covered in recent updates, leading to the bearish movement in GameStop today.
• The stock's price movement could also be influenced by profit-taking activities or technical factors after recent gains.

11.08.2024 - GME Stock was down 17.7%

• Today, GameStop's stock took a significant downturn, dropping by almost 11% during pre-market trading.
• The decline was prompted by the company's underwhelming second-quarter revenue results, which did not meet the consensus expectations.
• Despite positive technical indicators on the stock chart, pessimistic forecasts from analysts and the revenue shortfall likely influenced the negative market sentiment toward GameStop.
• The overall market mood was downbeat, with U.S. stock futures showing a decline, which further impacted GameStop's stock value.

11.08.2024 - GME Stock was down 17.0%

• GameStop (GME) witnessed a decline in its stock price today after its second-quarter earnings release, revealing lower revenue compared to analysts' projections.
• The company's revenue of $798 million missed the expected $895.67 million, impacting its stock performance.
• Speculation emerged regarding GameStop's potential closure of all stores to function as a bank following an analyst's comments on managing losses, raising concerns about the stock's valuation.
• The combination of underwhelming sales figures and uncertainties in addressing operational deficits contributed to the prevailing negative market sentiment around GameStop, influencing the downward movement in its stock value.

11.08.2024 - GME Stock was down 13.3%

• GameStop (GME) experienced a bearish movement after its second-quarter earnings report:
• Revenue miss for the 2024 fiscal year second quarter, with reported revenue of $798 million falling short of analysts' estimates.
• Year-over-year sales declines across all major categories, including hardware, software, and collectibles.
• An analyst suggested operational changes for GameStop, including the potential closure of all stores to manage losses and a shift towards operating as a bank, questioning the company's premium valuation against cash reserves.
• The disappointing earnings report and revenue figures resulted in a sharp pre-market drop of nearly 11% in GameStop shares.
• Market sentiment towards GameStop turned negative due to weak sales performance and concerns about the company's strategic direction, leading to a significant sell-off in the stock.

06.08.2024 - GME Stock was up 6.2%

• GameStop (GME) saw a notable 8.88% increase in its stock price today, closing at $23.42.
• The resurgence in GME's stock price is linked to the return of a well-known GameStop supporter who shared a mysterious message on Twitter, leading to renewed interest and purchasing activity.
• Speculation regarding the company's future outlook and the upcoming earnings report, coupled with a meme shared by the bullish supporter, likely contributed to the positive market sentiment and increased buying activity on GME.
• The market's response to the supporter's post and the excitement surrounding GameStop's forthcoming earnings report played a part in the stock's upward movement today.

08.07.2024 - GME Stock was up 5.2%

• Despite warnings regarding GameStop's struggling core business fundamentals, the stock displayed a strong bullish movement today.
• Robinhood experienced a surge in revenue for Q2 driven by robust trading in stocks and crypto, particularly with meme stocks like GameStop exhibiting increased trading volumes, which may have influenced the bullish movement.
• Improved sentiment across the broader market following recent lows likely had a positive impact on GameStop's stock price today.
• The rise in short bets on high-risk stocks such as Archer Aviation during a period of adverse market sentiment could have unintentionally contributed to the bullish movement in GameStop as investors explored different investment opportunities.