Why GameStop Stock Rallies Ahead Of The Earnings Report

SourceYahoo News
SectorFinancial Markets
CountryMiddle east

Oops!Something went wrong.Please try again later.Vladimir ZernovJune 8, 2021, 8:05 AM·2 min readOops!Something went wrong.Please try again later.

GameStop Video 08.06.21.

GameStop Shares Move To New Highs On Low Trading Volume

Shares of GameStop gained strong upside momentum today as traders continued to push the stock higher ahead of the release of the company’s first quarter fiscal 2021 earnings report. The report will be issued on Wednesday, June 9, 2021, after the market close.

Analysts expect that GameStop will report a loss of $0.83 per share. Earnings estimates for the full-year have actually trended down in recent months, and the market expects that GameStop will report a loss of $1.02 per share, which is projected to be followed by a loss of $0.59 per share in the next year.

Typically, declining earnings estimates serve as a bearish catalyst for a stock, but GameStop’s valuation is completely detached from fundamentals so it remains to be seen whether traders will pay attention to the company’s financials when...read more...