JUMP REPORT
| Avg Daily Volume: 3,833,550 Market Cap: 247.87M Sector: Services Short Interest: 114.93 |
EARNINGS EXPECTATIONS:
THIS QTR: EPS: .79/share REV: 2,240/M
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LAST QTR: EPS: .11/share ACTUAL: -.49/share (MISS)
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NEXT QTR: EPS: -.14/share REV: 1,290/M
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FULL YR: EPS: -.05/share REV: 6,510/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD: 58% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -20.43, -22.0, -39.78
EXPECTED JUMP MOVE: 15-20
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*** With market volatility at extremes during the coronavirus pandemic there is greater risk in trading these events which may not react as they would under normal market conditions. Please take extra caution before trading.
Links To Latest News and Headlines
GameStop Corp Chief Executive Officer George Sherman has forfeited more than 587,000 shares as he failed to meet his performance targets, according to a regulatory filing on Wednesday. GameStop is currently looking for a new CEO to replace Sherman as it pivots from a brick-and-mortar video game retailer to an e-commerce firm, Reuters reported on Monday, citing three sources. Chris Homeister, GameStop’s chief merchandising officer, forfeited more than 119,000 shares for failing to meet targets, another filing showed.
GameStop is currently looking for a new CEO to replace Sherman as it pivots from a brick-and-mortar video game retailer to an e-commerce firm, Reuters reported on Monday, citing three sources. Chris Homeister, GameStop’s chief merchandising officer, forfeited more than 119,000 shares for failing to meet targets, another filing showed.
Also, GameStop (NYSE: GME) announced plans to sell millions of shares of its own stock, but what will it do with the money? Jason Moser analyzes those stories, discusses the big weekend box office numbers, and previews The Masters! To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center.
The video game company is taking steps to eliminate its risk of bankruptcy and bolster its turnaround prospects.
(Bloomberg) — GameStop Corp. climbed Wednesday after it took a step to retire nearly all its existing debt as part of its transformation from a brick-and-mortar retailer into an e-commerce marketplace.The stock rallied 18% to $166.53, snapping a seven-day slide, for its biggest jump in 2 1/2 weeks. The video-game retailer said late on Tuesday it’s redeeming $216.4 million of senior notes, following a move to retire $73.2 million in debt last month.More than 21 million shares changed hands Wednesday, double what had been seen over the past two weeks. While trading volume has slowed from the eye-popping activity over recent weeks, Gamestop shares are still up nearly 800% this year, bringing the company’s valuation to almost $12 billion.The video-game retailer is in the midst of a turnaround, spearheaded by activist investor Ryan Cohen, shifting from a brick-and-mortar company and into an e-commerce marketplace able to compete with the likes of Amazon.com Inc..Earlier this month, the company announced plans to offer as much as $1 billion in additional shares. The extra cash cushioning, combined with fewer debt obligations may contribute to more favorable terms for the company in dealings with suppliers and partners.“Debt retirement is what they should have focused on in the first place,” Wedbush analyst Michael Pachter said in an email. “That puts them in a very secure financial position.”Read more: GameStop’s Other Trade Pays Off With Takeout of Junk Bonds (1)Volume Pick-UpBullish options on the video-game retailer were more heavily traded in Wednesday’s session than recent weeks. The increase in small-lot calls could signal a return of the same group of investors who were behind January’s epic short squeeze, according to Susquehanna derivatives strategist Chris Murphy.GameStop’s rally stood out from peers that have captivated retail investors as meme stocks were mixed Wednesday. While movie-theater operator AMC Entertainment Holdings Inc. climbed, cannabis stock Sundial Growers Inc. and Palantir Technologies Inc. dipped.GameStop has been hit by the video-game industry’s shift to online distribution. The company reported disappointing fourth-quarter earnings last month.(Updates share movement and adds details on options trading in seventh paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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