Options Market Statistics: GameStop Shares Tumble and Options Pop Amidst Disappointing Q1 Report
$GameStop(GME)$ shares ended 39.38% lower. Its options trading volume was 2.39 million. Call contracts account for 62.5% of the total trading volume. The $40 calls expiring June 7 were traded most actively.
The company reported Q1 revenues of $882 million, a decrease from $1.237 billion in the same quarter of the previous year and falling short of the anticipated $995.5 million. The quarterly loss stood at $32.3 million, an improvement from the $50.5 million loss seen in the same quarter last year, yet with an adjusted per-share loss of $0.12, it did not meet analysts' expectations.
Such disappointing results suggest that Gamestop is encountering more serious obstacles than previously thought. Declines were seen across all the company's sub-sectors, including hardware and accessories, software, and collectibles, underscoring the struggles Gamestop faces in preserving its market share and achieving revenue growth amidst fierce competition and swift industry changes.
$NVIDIA Corp(NVDA)$
Nvidias 10-for-1 stock split will take place after the market closes today, and trading on a split-adjusted basis will start Monday. If history is any indication, the split could be a bullish sign for its stock.
Average returns one year after companies announce stock splits are 25%, compared with 12% for the broader S&P 500, Bank of America analysts wrote in a note.
$Marathon Digital Holdings Inc(MARA)$ shares ended 7.36% lower. Its options trading volume was 0.36 million. Call contracts account for 75.5% of the total trading volume. The $21 calls expiring June 7 were traded most actively.
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