GameStop (GME) will be reporting third-quarter fiscal 2021 results after the bell on Wednesday. Shares of the video game retailer were trading relatively flat during the session ahead of the print.
Only a few analysts cover the stock. The consensus expectations from the three who rate the company is for an adjusted loss per share of 52 cents, with revenue of $1.19 billion for the third quarter ending on September 30th.
GameStop went through a C-Suite overhaul earlier this year after Ryan Cohen, the co-founder of e-commerce platform Chewy (CHWY), joined the board in January. He then became chairman of the company’s board in June. Cohen, known as “Papa Cohen” by the retail trader crowd, has said he’s not ready to reveal specifics about his turnaround strategy for GameStop.
“We are trying to do something that nobody in the retail space has ever done,” Cohen said at the company’s annual meeting this past June.
Year-to-date GameStop is up around 840%, following a massive short squeeze in January spurred by Reddit’s WallStreetBets traders.
The stock closed at $247 on November 19. It has since then come down more than 25% along with other risky equities and growth stocks during recent market volatility.
As with past conference calls following the results, no analyst questions will be taken.
On Wednesday a new “meme” stock inspired exchange traded fund began trading. The MEME ETF launched by Roundhill Investments holds 25 equities, including GameStop and AMC (AMC), and is rebalanced every two weeks.
Ines Ferré is a markets reporter and Thomas Hum is a writer for Yahoo Finance. Follow them on Twitter @ines_ferre and @thomashumTV
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