GameStop Corp GME shares are trading lower by 4.6% to $15.50 Thursday morning. Shares are trading lower, pulling back amid recent momentum, following increased interest among retail investors as the stock has trended across social media platforms in recent sessions.
Cyber Monday's robust sales, particularly in consumer electronics and accessories, likely contributed to GameStop's recent strength. This surge in retail sales could potentially positively impact GameStop, a video game retailer.
Momentum could also stem from next week's news item as traders and investors are also watching for the company's third-quarter earnings report, which is confirmed for Wednesday, December 6th.
What Else?
GameStop stock has othwerwise declined around 10% since late September, coinciding with Ryan Cohen's appointment as President and CEO. Despite not receiving compensation for these roles, Cohen oversees capital allocation and management, having been elected as the company's executive chairman in June.
See Also: Short Selling Rout: 92% Of ETF Shorts Were Unprofitable In The Last Month
The Securities and Exchange Commission (SEC) has also recently implemented new rules that force hedge funds to publicly reveal their short positions in publicly traded companies.
These regulations were prompted by the GameStop stock frenzy in 2021 and are intended to improve transparency within financial markets...Read More
According to data from Benzinga Pro, GameStop has a 52-week high of $27.87 and a 52-week low of $11.82.
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