GameStop (GME) will release its earnings report on Tuesday, June 10. The stock has seen significant interest lately, and this time around, headlines are particularly wild. Here’s a breakdown of what traders need to know heading into the critical report.
The company has invested $500 million in Bitcoin, with CEO Ryan Cohen buying over $10 million worth of stock in April, signaling confidence among insiders. However, GameStop still faces shaky fundamentals after a 28% year-over-year revenue decline.
Despite this, the dedicated GME bulls remain optimistic. The stock has dropped 15% from its 52-week high but has recovered 26% in three months. A “Golden Cross” has been triggered, indicating a bullish trend reversal when paired with rising volume and renewed interest from insiders and retail investors.
To prepare for the earnings report, traders can use Barchart’s Expected Moves tool to see the expected price range, including the earnings date, implied volatility, and high/low prices. This can help options traders choose the best strategy before the news hits.
Key Takeaways:
– GameStop reports earnings on June 10
– The company has invested $500 million in Bitcoin
– CEO Ryan Cohen’s insider buying signals confidence among insiders
– Fundamentals remain shaky after a revenue decline, but bulls remain optimistic
– A “Golden Cross” has been triggered, indicating a bullish trend reversal
Source: https://www.barchart.com/story/news/32803340/gamestop-earnings-preview-bitcoin-bets-insider-buying-and-the-volatility-playbook