Home / Business / GameStop retail investors are waiting to be bullish on Wednesday’s earnings report.

GameStop retail investors are waiting to be bullish on Wednesday’s earnings report.

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Scheduled to report earnings after the market close on Wednesday. as if important to the company’s share price

As in March, GameStop’s results tend to have less impact on how the stock trades, although AMC Entertainment AMC is not happy.
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Recently, the video game retailer is still a Mother Meme stock, and will it continue to do what is being said on Reddit, rather than whether Wall Street likes P&L?

Meanwhile, GameStop is expected to report earnings per share at a loss of $0.82, despite sales up nearly 22% in the quarter and launching a new game console as an opportunity for future growth. But it might have the biggest news. It was officially announced at the shareholders’ meeting on Wednesday that Chewy co-founder, 35, replaced Ryan Cohen, a private equity fund investor. who was voted as the new chairman of the Board of Directors of GameStop.

Cohen, who became the face of GameStop’s stock and a folk hero to the company’s devoted fans on social media, had fun deciphering the infrequently obscure tweets aimed at engaging. The small group of investors wasn’t disappointed when he took the reins of the announcement. to the shareholders who gathered “As dad said, fasten your seat belt.”

“I really started crying based on emotions/borders. When I hear him say that,” user noyogapants posted on the Reddit Superstonk board in response to Cohen’s remarks. “Then I took a deep breath. And tell yourself to come together because it hasn’t even started yet!”

Gathering yourself and a metaphorical seatbelt is a good idea for anyone trading GameStop stock in 2021. The stock is up nearly 1,700% from the year before, largely due to the influx of retail investors in the stock. January to create one of the biggest and weirdest short squeezes ever. And it continues to support the company’s transformation plan, which includes a leadership overhaul and taking concrete steps to move away from brick and mortar and into e-commerce.

Cohen was at the center of that narrative and was announced as the savior to take stock. “To the moon” was the main driver of the big buy that sparked in late May, and the company now trades more than $300 in shares for the first time. time since January

And the GameStop stock fueled Cohen’s plans. The company completed its $551 million IPO in late April. The company said it would use it to pay off large debts and speed up the transition.

But while GamesStop’s chief executive, George Sherman, joined Cohen on the board Wednesday morning. But his successor has yet to be named, and that raises uncertainty for analysts following the stock. Yet even one openly admits that anything tangible coming out of that income could be meaningless by individual investors making it clear they “like stocks.”

Wedbush analyst Michael Prachter wrote in a note on Monday: As long as retail investors remain enthusiastic about most GameStop’s opportunities, “key question marks don’t matter in terms of stock price movements.”

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