Here's what the company did after the bell Tuesday.Wall Street's estimates on the top and bottom lines.
The stock initially traded higher after the bell, but was last down about 12% with traders likely reacting to the potential share sale, an action many investors and analysts thought would be prudent given the Reddit-fueled run-up in the stock. There is also likely some disappointment about the lack of detail from the conference call without any questions answered.
GameStop's fiscal fourth-quarter earnings typically make up the majority of the company's yearly earnings, boosted by holiday sales. The company's same-store sales rose 6.5% last quarter.The company said it is continuing to suspend guidance, but is updating its fulfillment operations to boost the speed of its delivery and services. GameStop CEO George Sherman also revealed that February comparable store sales increased 23%, thanks to strength in hardware sales worldwide.
In that month, an epic short squeeze in the company's stock shocked Wall Street and drew attention to an emerging class of retail investor on social media platforms like Reddit. GameStop's share price skyrocketed to $483 per share, and subsequently lost 90% of its value. The controversy drew the attention ofSince GameStop's rise and fall in January, the stock has continued to trek higher, with the shares up nearly 80% this month. GameStop's stock has risen more than 860% in 2021.
Not the short sellers at all eh
**EXPOSED** The GameStop Mess Exposes the Naked Short Selling Scam with Citadel Securities (CDEL). They are still doing it in the otc market SEC_Enforcement
CNBC will regret pissing off this brand new wave of investors. One day, boomers will be gone and your credibility will be 0
What are they gonna do? Sell a shit load of stock and buy steam?
DILUTE EVERYTHING. $gme
Ah duh
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Not a single mention of the 21% sales increase on February, this is fuking discusting reporting, just call which good calls are so i can do the opposite.
Lol ok did y’all just crawl out from under your rock?