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Exclusive: GameStop Completes At-The-Market Equity Offering Program
Exclusive: GameStop Completes At-The-Market Equity Offering Program

GRAPEVINE, Texas, June 22, 2021 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously announced “at-the-market” equity offering program (the “ATM Offering”).

GameStop Is Joining the Russell 1000, but AMC Isn’t. How It Affects the Stocks.
GameStop Is Joining the Russell 1000, but AMC Isn’t. How It Affects the Stocks.

The latest rally in meme stocks has given AMC Entertainment and GameStop the biggest and third-largest market capitalizations among companies in the Russell 2000 index of small companies. The Russell indexes' annual reconstitution is coming up next week, so investors have been wondering it the pair might graduate into the large-cap Russell 1000 .

Don't Ignore GameStop's Crazy Valuation, But Its Business Is Getting Better
Don't Ignore GameStop's Crazy Valuation, But Its Business Is Getting Better

Were traders on the WallStreetBets subreddit right about GameStop (NYSE:GME) after all?

MarketWatch FUD Why a crash in meme stocks AMC and GameStop looks more likely now
MarketWatch FUD Why a crash in meme stocks AMC and GameStop looks more likely now

MarketWatch FUD media wrote: Could insider sales of meme stocks signal a coming crash in their share price? The empirical research suggests the answer is yes.

'Grand Theft Auto' Publisher Take-Two Murders March-Quarter Estimates

Video game publisher Take-Two Interactive Software (TTWO) late Tuesday crushed Wall Street's targets for its fiscal fourth quarter. But it offered mixed guidance. In extended trading, TTWO stock initially fell but then rebounded into positive territory.


The New York City-based company earned an adjusted $1.40 a share on net bookings of $784.5 million in the quarter ended March 31. Analysts expected Take-Two earnings of 67 cents a share on sales of $664 million. In the year-earlier period, Take-Two earned an adjusted $1.50 a share on net bookings of $729.4 million.

Starting in the March quarter last year, Take-Two and other game publishers got a sales boost from stay-at-home orders stemming from the Covid-19 pandemic. The video game industry faces difficult year-over-year comparisons as vaccinations increase and the economy reopens.

For the current quarter, Take-Two expects to earn an adjusted 80 cents a share on net bookings of $650 million. That's based on the midpoint of its guidance. Wall Street had predicted Take-Two earnings of 88 cents a share on sales of $592.3 million. In the June quarter last year, Take-Two earned an adjusted $2.30 a share on net bookings of $996 million.

TTWO Stock Rises In Late Trades

For the current fiscal 2022, Take-Two expects to generate net bookings of $3.2 billion to $3.3 billion. Wall Street had predicted $3.51 billion.

Take-Two's biggest game franchises include "Grand Theft Auto," "Red Dead Redemption" and "NBA 2K."

Chief Executive Strauss Zelnick called the current fiscal year "an investment year" that will set the company up for strong growth in the next two years. For instance, the company recently hired 700 new software developers, he told Investor's Business Daily. Take-Two plans to launch two new game franchises this year, he said.

In after-hours trading on the stock market today, TTWO stock rose 3.2% to 173 in recent trades. During the regular session Tuesday, TTWO stock dipped 0.3% to 167.69.

In addition to TTWO stock, other video game stocks moving on earnings news Tuesday included NetEase (NTES) and Motorsport Games (MSGM).

NetEase Stock Rises On First-Quarter Beat

Early Tuesday, China-based NetEase posted first-quarter results that topped analyst expectations. The provider of internet and online game services earned $1.14 per U.S. share, up 25% year over year, on sales of $3.13 billion, up 30%, in the March quarter. Analysts had expected NetEase earnings of 97 cents a share on sales of $3.11 billion.

NetEase stock rose 3.5% to 108.61 on Tuesday.

Late Monday, Motorsport Games beat Wall Street's target for revenue, but its per-share loss was wider than expected in the first quarter. The Miami-based maker of racing video games lost $1.30 a share on sales of $2.47 million. In the year-earlier period, it lost $240,000 on sales of $3.23 million.

Motorsport Games went public on Jan. 13. On Tuesday, Motorsport Games stock slid a fraction to 18.45.

TTWO Stock A Laggard In Industry Group

TTWO stock ranks eighth out of 16 stocks in IBD's Computer Software-Gaming industry group, according to IBD Stock Checkup. It has a subpar IBD Composite Rating of 41 out of 99. Meanwhile, NetEase stock ranks No. 7 in the group and Motorsport Games ranks No. 13.

The top-ranked stocks in the video game industry group are NeoGames (NGMS) and Gravity (GRVY).


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