FMP
GameStop Q2 Preview
Sep 1, 2021 11:02 PM - Davit Kirakosyan
Image credit: FMP
GameStop Corp. (NYSE:GME) is expected to provide its Q2 results on Sept.8. Wall Street analysts expect the company to deliver quarterly revenue of $1.1 billion with a loss per share of $0.66. The company is seeing improving revenues as economies reopen, but it is still unclear when the company will be able to generate profits.
The company shares, which skyrocketed earlier this year following the retail investors' decision on r/wallstreetbets subreddit to buy and hold the company’s stock, grew more than tenfold since then.
Several exchange-traded funds benefited from the surge in meme stock prices earlier this year, however, some of them seem to back away now. For example, State Street, which scored big on GameStop when the prices skyrocketed in January, now only holds 1% of its assets in GameStop, significantly lower in comparison to January, when it had more than 20% of its assets in the company’s stock.
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