GME stock

On the strength of a better-than-expected Q4 2022 earnings report, GameStop (GME) stock has shot up in after hours trading.

We expect to learn more during today's [GameStop (GME) Q4 2022 earnings call](https://www.shacknews.com/article/134683/listen-to-gamestop-gme-q4-2022-earnings-call), which can be viewed in the embed below. [GameStop (GME) Q4 2022 earnings](https://www.shacknews.com/article/134688/gamestop-gme-q4-2022-earnings-results) exceeded expectations on the strength of hardware, software, and collectibles sales. [GameStop NFT Marketplace](https://www.shacknews.com/topic/gamestop-nft-marketplace) or any of the company's crypto endeavors. The company also finished the last quarter with [$1.391 billion of cash on hand](https://www.shacknews.com/article/134687/gamestop-ended-q4-2022-13-billion-cash). Finance](https://finance.yahoo.com/quote/GME), GameStop Corp. GameStop (GME) reported in with a high profit margin and an even larger amount of cash on hand.

GameStop Corp. (GME) stock is down -26.07% over the last 12 months, and the average rating from Wall Street analysts is a Sell.

Over the past year the S&P 500 has fallen -10.55% while GME is down -26.07%. (GME) stock has gained 3.2% while the S&P 500 is higher by 0.99% as of 9:38 AM on Tuesday, Mar 21. (GME) stock is down -26.07% over the last 12 months, and the average rating from Wall Street analysts is a Sell.

GameStop Corp.(NYSE:GME): Video game and electronics retailer GameStop (GME) reported declining revenue and huge losses in its last reported quarter, ...

Try Magnifi Personal, free for 90 days.](https://magnifi.com/magnifi-personal?utm_medium=affiliate&utm_source=mc-referral&utm_campaign=SN&utm_ad_type=textlink&utm_goal=mentor&utm_content=mctextlink90dayfree) Mangeet’s keen interest in the stock market led her to become an investment researcher and financial journalist. GME shares were trading at $18.12 per share on Tuesday morning, up $1.25 (+7.41%). [gains at the start of this year](https://www.investopedia.com/stock-apes-are-back-7107080?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral) on premature hopes of a pause in the Fed’s rate hike cycle. So, consider these three stocks rated B (Buy) from the Specialty Retailers industry instead: GME’s trailing-12-month Price/Book multiple of 4.12 is 101.2% higher than the industry average of 2.05. GME’s trailing-12-month gross profit margin of 21% is 40% lower than the industry average of 34.99%. Analysts expect GME’s revenue to decline 2.2% year-over-year to $5.88 billion for the fiscal year that ended January 2023. For the third quarter that ended October 29, 2022, GME’s net sales decreased 8.5% year-over-year to $1.19 billion, while its gross profit came in at $291.60 million, down 8.5% year-over-year. Two years ago, during the peak of the COVID-19 pandemic, the stock market was in the grip of meme mania. The stock is currently trading below its 50-day and 200-day moving averages of $19.64 and $26.62, respectively, indicating a downtrend. The stock, which witnessed skyrocketing rallies in the past driven by retail investors’ interest, is expected to keep losing in price this year.

GameStop (GME) stock is a hot topic among traders on Tuesday as they prepare for the company's earnings report after markets close.

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. That would make sense, as the stock is a [fan favorite with meme investors](https://www.nasdaq.com/articles/gamestop-gme-q4-2022-earnings-what-to-expect). Wall Street is looking for GameStop to report a loss of 13 cents per share alongside revenue of $2.18 billion in the upcoming report. Even so, shares are rising 4.9% as of Tuesday morning. If that happens, traders will likely see shares of GME stock Of course, GameStop could miss its earnings report, which wouldn’t do GME stock any favors.

The video game retailer reported Q4 earnings that took many skeptics of GameStop stock by surprise. Could GME stock continue to squeeze short sellers?

GameStop announced on March 21 it had made a quarterly profit for the first time in two years marking the end of its fiscal year positively.

As part of GameStop’s goal to revive its business, the company has also been working to boost its cash situation. This figure is lower than the $538.9 million, or 23.9% of sales, recorded for the same period a year earlier. The retailer reported a profit of $48.2 million, equivalent to 16 cents per share, in contrast to a loss of $147.5 million, equal to 49 cents in the previous year. Net sales came in at $2.23 billion for the quarter that ended on January 28. When investing, your capital is at risk. GameStop has been assigned an overall ‘sell’ rating by the two analysts working on Wall Street.

Meme stocks including Bed Bath Beyond (BBBY), AMC (AMC), and GameStop Corp.(GME) surged in pre-market trading on Wednesday boosted by GME's huge earnings ...

The ETF has soared by more than 18% in the past three months. The retailer achieved this in part by slashing costs as selling, general and administrative expenses came in at $453.4 million for the quarter versus $538.9 million in the same period last year. As GME swung to a profit, there has been rising speculation that this could set up the stock for another rally which could force short sellers to drop their bets against the company resulting in a “short squeeze.” A short squeeze happens when a heavily shorted stock results in short sellers exiting their positions in the stock which only drives up the price further. Currently, short interest in AMC stands at 125.96 million while it stands at 56.85 million for GME. When Dusaniwsky was asked whether AMC is also up for a short squeeze, Dusaniwsky termed AMC as a “crowded short” and added, GME reported a quarterly profit for the first time in two years of $48.2 million, or $0.16 per share, compared to a loss of $147.5 million, or $0.49 per share in the same period a year back.

GameStop (NYSE:GME) stock is taking off on Wednesday after the video game retailer posted a profit in its fourth-quarter earnings report.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. You can find all of that news at the following links! [first time in two years](https://www.cnbc.com/2023/03/21/gamestop-gme-q4-2022-earnings.html) that GameStop has reported a quarterly profit. In addition to that earnings beat, GameStop also reported revenue of $2.23 billion. The video game retailer stopped providing guidance when the Covid-19 pandemic started and has yet to bring it back to its earnings reports. That’s a massive improvement over its losses per share of 49 cents from the same time last year.