GameStop (GME) Stock News and Forecast: What to expect from GameStop earnings

Binance Academy: What Is TPunk? 10 NFTs Which Costs Millions - Part II

GameStop stock is back on the top trending list but still struggling.

GME stock is down 43% year to date.

GameStop releases earnings on Thursday after the close.

GameStop (GME) is back on the top trending lists, though it has not been seen for a while. Some other stocks have taken the limelight, recently some micro-cap oil stocks, but these have gone back to sleep now as the crowd moves on. GameStop was the original though, and it releases earnings after the close on Thursday. This is generating some attention on the usual social media sites and helping the GME stock price too. At the time of writing, GME stock is up 1.4% at $79.05.

GameStop Stock News

GameStop earnings are out after the close with a conference call afterward. GME is expected to report earnings per share (EPS) of $0.84 and revenue of $2.22 billion. This would be a marked improvement on Q3 earnings, which it reported on December 8. Back then EPS was forecast at $-0.52 but came in way behind at $-1.39. Revenue came in ahead of forecasts back then too. GME lost 10% the day after its Q3 earnings.

We remain bearish on GME stock though and cannot argue against the current trend. The stock has lost 65% over the last nine months and has been on a one-way spiral. The current environment is punishing high growth stocks, and the recent spike in yields will only add to that. It needs blockbuster earnings on Thursday from GME to change that sentiment. GME still trades on a very high multiple compared to other consumer stocks, and rising inflation will hurt. GameStop is also a high street store. It pays wages, electricity, etc., all of which are rising and will continue to do so.

GameStop Stock Forecast

GME stock closed below our key support at $86 on Monday. This will likely lead to more selling pressure. That will bring GME quickly down to $70, and we may then see a stabilization period as volume is quite strong around the $70 level.

GameStop (GME) Stock News and Forecast: What to expect from GameStop earnings - 1

GameStop (GME) stock chart, daily



Binance Academy: What Is TPunk? 10 NFTs Which Costs Millions - Part II

FXStreet News

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market and was founded in 2000.
The website offers a wide range of tools and resources: 24/5 currency news, real-time economic calendar, advanced rates and charts, educational webinars, analysis reports, forecasts, Learning Center, newsletters, industry services, FX customizable studies...
As its distinctive trademark, the portal has always been proud of its unyielding compromise to provide neutral and unbiased information and to enable its users to take better and more confident decisions. FXStreet has managed to gain the collaboration of the entire Forex industry, from individual professionals and small companies right up to Forex Brokers and Investment Banks. FXStreet covers the FX Market 24/5: an expert team of journalists, traders and economists picture what the market is doing and what is happening as it happens.