GameStop shares jump 38% on Q4 beat
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/18/2026
- Wall St slips as higher Treasury yields weigh on sentiment
- Oil pares losses as market weighs Saudi supply concerns, Middle East tensions
- Warren Buffett transitions to Berkshire’s chairman emeritus
- Is the S&P 500 in an "earnings bubble"? Goldman weighs in
- Wells Fargo cuts Netflix rating on engagement risk, weak slate
GameStop (GME) leads meme stock rally after posting surprise 4Q profit
March 22, 2023 12:27 PM EDTShares of GameStop are up 37.28% in mid-day trading on Wednesday after the video game retailer posted its first profitable quarter since January 2021. The company reported a net income of $48.2 million, compared to a net loss of $147.5 million for the prior years fourth quarter.
Shares for other meme stocks popularized during the pandemic, including AMC Entertainment and Bed Bath & Beyond, also increased as a result.
GameStop CEO Matt Furlong told investors during a post-earnings call Tuesday that the companys profit was impacted mainly by a decision to cut costs,... More
