To The Moon

$GameStop(GME)$ released Q2 earnings after close of September 7th.

• Q2 Revenue decreased 4.0% YOY to 1.136 billion US dollars, miss market consensus of 1.279 billion US dollars;
• Hardware and accessories accounted for 52.5% of total revenue, slightly miss the consensus, Software sales were $316 million, which fell short of the market expectation of $439 million, while Collectible reaches 223 million, beat market consensus of 213 million.
• Marketing, general and administrative expenses fell 14.3% to $387.5 million in the quarter, as GME focused on adjusting costs after a period of significant investment in long-term plans
• Adjusted net loss narrowed to $107 million, beat the market consensus of lossing $125 million.

Inventory stood at $735 million at the end of the quarter, up from $596 million a year earlier. The cash position at the end of the quarter was $908.9 million. There is no debt on the balance sheet except for low-interest unsecured term loans related to the French government's response to COVID-19.

As a meme stock, what matters is not the performance, but whether there is news that makes investors "in faith".

For example, GME announced the establishment of a partnership with FTX, aiming to introduce more GME customers into FTX's community and its digital currency market. In addition to partnering with FTX on new e-commerce and online marketing initiatives, GameStop will also start offering FTX gift cards in specific stores.

Then, shares of GME jumped 11.06% in after-hours.

Good for this.

BTW, FTX is a digital asset spot and derivatives trading platform headquartered in Bahamas, ranking 4th in daily trading volume of global exchanges.

Is it being more volitile?

Let's see...