GameStop Stock: Weak Q2 Report Expected Today

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GameStop Stock: Weak Q2 Report Expected Today

TipRanks2022-09-07

Story HighlightsGameStop’s website traffic trends indicate that the video game retailer is set to report weak second-quarter results. However, the support from memesters continues to keep GME stock ...

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MickLee
·2022-09-08
71 millions has been DRSed, LFG!
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However, the support from memesters continues to keep GME stock ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/gamestop-nysegme-stock-website-traffic-portends-a-weak-q2\">Source Link</a>\n\n</div>\n","source":"lsy1606183248679","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop Stock: Weak Q2 Report Expected Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop Stock: Weak Q2 Report Expected Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-07 21:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/gamestop-nysegme-stock-website-traffic-portends-a-weak-q2><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsGameStop’s website traffic trends indicate that the video game retailer is set to report weak second-quarter results. However, the support from memesters continues to keep GME stock ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/gamestop-nysegme-stock-website-traffic-portends-a-weak-q2\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GME","symbol_name":"游戏驿站","start_time":0,"source_url":"https://www.tipranks.com/news/article/gamestop-nysegme-stock-website-traffic-portends-a-weak-q2","article_id":"1151033034","we_media_id":null,"thumbnails":[],"rights":{"source":"lsy1606183248679","url":"https://www.tipranks.com/news/article/gamestop-nysegme-stock-website-traffic-portends-a-weak-q2","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1151033034","pubTimestamp":1662556097,"sourceInfo":{"source_id":"lsy1606183248679","name":"TipRanks"},"weMediaInfo":null,"summary":"Story HighlightsGameStop’s website traffic trends indicate that the video game retailer is set to re","collect":0,"end_time":0,"defaultTopTitle":"tipranks.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GME":"游戏驿站"},"translate_title":"游戏驿站股市：第二季度报告疲弱","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GME":0.9},"content_text":"Story HighlightsGameStop’s website traffic trends indicate that the video game retailer is set to report weak second-quarter results. However, the support from memesters continues to keep GME stock volatile.Memester’s favorite GameStop Corp. (GME) is slated to release its second quarter Fiscal 2022 results on September 7, after the market closes. GameStop is an American video game, consumer electronics, and gaming merchandise retailer. GME stock has lost 34.2% so far this year.The Street expects GameStop to post an adjusted loss of $0.42 per share in Q2, better than its comparative prior year period’s loss of $0.76 per share. Meanwhile, revenue is pegged at $1.27 billion, representing year-over-year growth of 7.6%, but lower than Q1FY22 revenue of $1.38 billion.GameStop’s Q2 Website Traffic Trends are DiscouragingTipRanks Website Traffic Tool signals that GameStop is set to report weak Q2 results. As per the tool, in Q2, the total estimated visits to gamestop.com fell 25.72% compared to the same period of last year.Furthermore, TipRanks Website Traffic Tool indicates that the year-to-date estimated visits declined 16.89% compared to the same period last year. There has also been a sequential decline of 11.09% in the second quarter’s total estimated visits. These numbers hint that GameStop is set to post a disappointing second-quarter performance.However, if you look at the quarterly website traffic trend, there is an uptrend in the total estimated visits over the last two months. In May, the total estimated visits fell 15.03% sequentially. However, in June, the visits ticked up 9.91% over May. Similarly, in July, the total estimated visits grew 13.07% over June. This shows that more people have started visiting GameStop’s website recently, and the uptrend may continue going forward.Fundamentals vs. Price FluctuationsAs popularly known, GameStop is a favorite of memesters that “pump and dump” stocks for their own benefit. In the past year, GME stock has witnessed a high of $63.92 in November 2021 while also touching a low of $19.40 in March 2022.The meme stock frenzy has built a huge momentum in the share price, which is not justified by the fundamentals. There is no steady growth in GameStop’s revenues. Plus, the company has been incurring huge net losses since last year, with no sign of improvement. Moreover, according to the market research company, NPD Group, video game sales declined 9% year-over-year to $4.177 billion in July. Also, accessory spending plunged 22% year-over-year to $148 million in July. These also suggest that the July quarter was not good for the video game industry as a whole.Nonetheless, GameStop’s efforts to try to boost its sales may pay off. The company has recently announced giving stock rewards to its store employees.Plus, GameStop has launched its Ethereum-based Non-Fungible Token (NFT) marketplace, allowing gamers, creators, collectors, and other community members to transact in NFTs. However, this business is not doing so well lately. Nevertheless, there is an enormous growth opportunity in the space that the company can tap effectively going forward.What is the Prediction for GME Stock?On TipRanks, GME stock has a Moderate Sell rating that is based on just one Sell rating in the last three months. The average GameStop stock price target prediction of $7.50 implies a whopping 70.2% downside potential to current levels.On the other hand, some retail investors continue to bet on GME stock. TipRanks’ Stock Investors tool shows that investor sentiment is currently Neutral on GameStop, with 1.2% of portfolios tracked by TipRanks increasing their exposure to GME stock over the past 30 days.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9938154714,"gmtCreate":1662591081638,"gmtModify":1676537092773,"author":{"id":"3569813054083373","authorId":"3569813054083373","name":"MickLee","avatar":"https://community-static.tradeup.com/news/f5160fa0782a451044c5b90dcbfa30da","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3569813054083373","authorIdStr":"3569813054083373"},"htmlText":"71 millions has been DRSed, LFG!","listText":"71 millions has been DRSed, LFG!","text":"71 millions has been DRSed, LFG!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938154714","repostId":1151033034,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":17,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}