GameStop Corp GME shares are trading higher by 4.90% to $25.90 Wednesday morning. The stock's rise may be driven by anticipation of the company's first-quarter earnings report, confirmed for Wednesday's after-hours session.
Based on analyst consensus estimates, GameStop is projected to announce an earnings per share (EPS) loss of 12 cents, alongside a revenue of 1.36 billion.
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Last quarter the company beat EPS by $0.29, which was followed by a 35.24% increase in the share price the next day.
The stock may also be experincing a short squeeze in anticipation of Wednesday's earnings report. GME has a total share float of 267.72 million, of which 57.32 million shares are sold short, representing a notable 21.41% of shares sold short.
GameStop is a U.S. multichannel video game, consumer electronics and services retailer.
According to data from Benzinga Pro, GME has a 52-week high of $47.99 and a 52-week low of $15.41.
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