GameStop Fans Face Off Against Earnings Day History of Defeat
- Retailer averages an 18% drop after results since June 2019
- Optimism on Cohen-led turnaround has buoyed share value
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Earnings day hasn’t been kind to GameStop Corp. investors -- and analysts, options trading and recent history suggest Wednesday evening’s won’t likely be any different.
Shares of the video-game retailer were up 1.2% in New York on Wednesday but they have tumbled 18% on average the day after earnings since June 2019 -- they gained on such reports only twice since the start of 2018. Add on that the options market implies the stock will swing 15% by the end of Thursday’s session and it suggests it could be a choppy few days ahead for the company that helped set off the meme-stock trend.