GameStop Earnings: Can They Post a Big Surprise?
GameStop stock opened 2023 at $17.25 and rallied to a high of $27.65 on June 13.
The move was attributed by observers to the earnings report on March 21, when GameStop beat EPS expectations by 220%—a gain of $0.16 per share, compared to an expected loss of $0.13 per share. This sent the stock straight up the next day, resulting in a rally of almost 60% the next trading session. The stock reached an annual low of $11.82 just a few trading sessions ago, and it vaulted from that level to the current price of $17.30 in short order.
The move was attributed by observers to the earnings report on March 21, when GameStop beat EPS expectations by 220%—a gain of $0.16 per share, compared to an expected loss of $0.13 per share. This sent the stock straight up the next day, resulting in a rally of almost 60% the next trading session. The stock reached an annual low of $11.82 just a few trading sessions ago, and it vaulted from that level to the current price of $17.30 in short order.
The stock price's expected move this week based on current implied volatility is quite high with the earnings announcement looming at +-$3.49. With the stock sitting around $17, this is almost a 20% stock price expected move just this week.
Looking further to the Jan. 19, 2024, options cycle, which has an expected move of just +-$5.19, we can see that a lot of weight is being put on this week's expected move. $GameStop (GME.US)$
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