GameStop Stock News

GameStop (GME) shares plunged in premarket trading on Wednesday after the brick-and-mortar video gamer retailer announced a 20 million share offering and reported a 31% drop in quarterly sales, as consumers continue to pivot from physical discs to digital downloads and game streaming.

Despite an earnings beat, the company's retail business is a melting ice cube—slowing shrinking—and there is no strategy to replace it.

Shares of GameStop , a widely watched meme stock, tumbled 10% in premarket trading on Wednesday after the video game retailer reported a bigger drop in quarterly revenue, questioning its ability to revitalize its business.

The videogame retailer reported earnings of 4 cents per share for the three months ended Aug. 4, beating expectations for a 9 cents per-share loss.

GameStop Corp (NYSE:GME) shares continued to fall in aftermarket trading despite the retailer announcing its first profitable second quarter in seven years. Net income came in at $14.8 million for the three-months to June, a significant turnaround from a $2.8 million loss in the same period last year.

GameStop's Q2 2024 revenue fell 31.4%, missing expectations, but earnings exceeded forecasts, highlighting a significant sales drop despite bottom-line improvements. The company's bleak future stems from missed opportunities to reinvent itself, with declining hardware, software, and collectibles sales harming it today. GameStop's robust cash position prevents bankruptcy, but core operations lac...

GameStop Corp. faces strong competition from game publishers and big retailers, making a turnaround of its core business unlikely. I initiate a “Strong Sell” rating with a $14 target price. CEO Ryan Cohen has reduced costs and improved profitability but faces challenges in growing GameStop's revenue amidst declining physical retail relevance and rising digital distribution. GameStop's liquidity...

GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit.