GameStop (gamestopeth.io)

GameStop (gamestop-coin.vip)

Roaring Kitty

GmeStop

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<p class="has-drop-cap">GameStop (NYSE: GME) is once again in the spotlight as the meme stock phenomenon shows signs of resurgence. The video game retailer’s stock price jumped nearly 6% on Wednesday, driven by renewed <a href="https://x.com/TheRoaringKitty/status/1832086356849250635" target="_blank" aria-label="social media activity from a key figure (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">social media activity from a key figure</a> in its 2021 short squeeze saga. <br><br>This comes just days before the company is set to release its second-quarter earnings report, amid concerns from analysts about its long-term growth prospects.</p>
<h3 id="roaring-kitty-returns">Roaring Kitty Returns</h3>
<p>Keith Gill, known online as “Roaring Kitty,” made a surprising return to Twitter on September 6, 2024, after a prolonged absence. Gill, whose social media posts were instrumental in the 2021 GameStop short squeeze, shared an image that appeared to reference the movie Toy Story. The tweet quickly went viral, garnering over 522,900 views, 2,700 retweets, 3,900 quotes, and 14,000 likes within hours.</p>
<p>Gill’s influence on GameStop’s stock price has been significant. His initial $53,000 investment in the company reportedly grew to nearly $48 million at the peak of the 2021 frenzy. <br><br>As of June 2024, Gill is said to own 9 million shares of GameStop, valued at approximately $250 million. His social media activity has historically coincided with surges in GameStop’s stock price, a pattern that appears to be repeating with Wednesday’s price increase.</p>
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<h3 id="analyst-concerns-ahead-of-earnings">Analyst Concerns Ahead of Earnings</h3>
<p>Despite the renewed enthusiasm from retail investors, <a href="https://www.marketwatch.com/story/gamestop-faces-near-unsurmountable-barrier-in-its-return-to-growth-says-wedbush-4d68faf6" target="_blank" aria-label="Wall Street analysts remain skeptical (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">Wall Street analysts remain skeptical</a> about GameStop’s fundamentals. Wedbush analyst Michael Pachter maintains an underperform rating and an $11 price target for the stock, citing a “near insurmountable barrier” to the company’s planned return to growth.</p>
<p>GameStop is scheduled to report its second-quarter results after market close on September 10, 2024. Wedbush expects an in-line quarter with modest sequential improvement to profit, projecting Q2 net sales of $900 million and a loss of 1 cent per share. <br><br>However, Pachter expressed concerns about several factors affecting GameStop’s business, including the ongoing shift from physical to digital game sales, the proliferation of microtransactions, growth of subscription services, and declining hardware sales due to streaming services.</p>
<p>The analyst also noted GameStop’s “total lack of any strategy to enter new categories with growth potential” as a significant issue. Adding to these concerns, GameStop has not provided formal sales or earnings guidance since 2019 and has not held earnings conference calls since March 2023, limiting investor insight into the company’s strategy and performance.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em><br></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/gamestop-stock-jumps-as-roaring-kitty-resurfaces-analysts-remain-wary/">GameStop Stock Jumps as ‘Roaring Kitty’ Resurfaces, Analysts Remain Wary</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

GameStop Stock Jumps as ‘Roaring Kitty’ Resurfaces, Analysts Remain Wary

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