Tag Archives: GameStops

GameStop Chairman Ryan Cohen has a long way to go before being mentioned in the same breath as investing legend Warren Buffett. At least that’s the hot take from top Wall Street analyst Anthony Chukumba of Loop Capital Markets, who famously dropped coverage of GameStop in early 2021 amid the meme stock frenzy. “I am not taking anything away from Ryan Cohen. He has at least three zeros in his net worth more than I do. He founded this company Chewy and sold it for a gazillion dollars. But let’s… Source link

GameStop’s (GME) reported plan to launch an NFT marketplace is “dead on arrival”, says one analyst.  “NFT’s are a real thing…the problem is GameStop,” Wedbush’s Michael Pachter told Yahoo Finance Live.  A Wall Street Journal report says the company hired more than 20 people to run the unit which will launch an NFT marketplace, a plan which the video game retailer has hinted at in the past. The report also states GameStop is working on creating partnerships with two crypto companies. “NFT’s… Source link

The world’s largest multichannel video game retailer GameStop is expected to report its fiscal second-quarter loss of -$0.67 per share, an improvement from a loss of -$1.40 per share seen in the same period a year ago. The Grapevine, Texas-based company would post year-over-year revenue growth of about 20% year-on-year to around $1.1 billion. EPS estimates have been exceeded twice in the last four quarters. GameStop Corp. will report second-quarter fiscal 2021 earnings results after the… Source link

(Bloomberg) — GameStop Corp. climbed after saying it intends to elect Ryan Cohen as its next chairman, cementing the activist investor’s influence at the video-game retailer. Kurtis Wolf resigned effective April 5, GameStop said in a filing Thursday. The company said the resignation didn’t result from a disagreement over operations, policies or practices. Cohen will stand for election at the annual meeting on June 9, GameStop said in a statement. It plans to pay all directors entirely in… Source link

(Bloomberg) — GameStop Corp. is ending the week lower than where it started, even after retail investors refused to let go of their commitment to the stock following an earnings-related selloff. Investors were quick to get over GameStop’s 12th consecutive quarter of slowing sales and management’s decision to not take questions on its earnings call on Tuesday, despite warnings from most Wall Street analysts. On Thursday, shares erased the earnings-led slump. More than $6.4 billion in… Source link

NEW YORK (AP) — The frenzy around GameStop’s stock may have quieted down, but the outsized influence small investors had in the saga is likely to stick around. No one expects another supernova like GameStop to happen again, where a band of smaller-pocketed investors helped boost a struggling company’s stock 1,000% in two weeks. But the tools they employed can be used again and again, if those smaller investors stay connected on social media forums and if regulators don’t change the… Source link

(Bloomberg) — India’s day traders are strapping in for the GameStop Corp. ride that’s taken equity markets by storm. The videogame retailer was among the five most-traded names over the past week on Stockal, a platform for Indian retail investors to trade U.S. equities. GameStop accounted for about 15% of all trades on the platform, co-founder and co-chief executive officer Sitashwa Srivastava said in an interview. “We were not expecting Indians would be on Reddit, reading about… Source link

(Bloomberg) — WallStreetBets, the internet forum fueling a frenzy of retail trading, briefly turned itself off to new users Wednesday after a deluge of new participants raised concerns about its ability to police content, a notice on the website said. The WallStreetBets home page was closed to all users for a little over an hour Wednesday evening in New York. A message on the site shortly after 6:30 p.m. in New York said it was experiencing technical difficulties due to a flood of new… Source link