leisureentertainment
GameStop Corp (NYSE: GME) opened about 20% down on Friday after filing to sell additional shares in an at-the-market offering. How many shares does $GME plan on selling?The video gaming merchandise retailer plans on offering 45 million shares in total. What it plans on doing with the proceeds, however, remains unclear. $GME is opting for a stock sale shortly after a brief return of the meme stock craze that saw its shares trade at a high of about $65. But they crashed sharply after the short squeeze and are now trading at $22 and change. The massive gain in GameStop stock that lasted hardly fo...
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AMC Entertainment (NYSE: AMC) stock price is going parabolic this week, as I have long predicted here, here, and here. In another report in February, I argued that it was always darkest before dawn for a beaten-down stock like AMC. Now, it soared by 78% on Monday and is up by another 52% on Tuesday. Why AMC Entertainment is soaringAMC Entertainment is not the only meme stock that is soaring. GameStop (GME) stock price surged by over 74% on Monday and is now up by over 47% in the pre-market session as I predicted last week when I noted that it could jump by 140%. The main reason for the rally i...
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GameStop Corp (NYSE: GME) opened about 40% up on Monday after “Roaring Kitty” made a post on “X” for the first time since 2021. Why does Roaring Kitty matter for $GME?That’s significant since Keith Gill who goes by “Roaring Kitty” on X and “DeepF******Value” on Reddit is the one who inspired the short squeeze of 2021. He, therefore, is the pioneer of the meme stock frenzy so to speak. Gill even faced a class-action lawsuit that alleged he acted as if new to trading but was a licensed professional instead. The ex-marketer at Massachusetts Mutual Life Insurance testified before Congress as well....
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The AMC (NYSE: AMC) stock price continued its freefall on Thursday after the company issued a weak forward guidance. It plunged by over 6%, bringing the year-to-date losses to over 50%. In the past few years, the company’s market cap has moved from over $10 billion to about $881 million. Results were not as bad as expectedLooking at AMC’s quarterly results, my view is that the company’s results were not as bad as I expected given how tough the box office industry has been lately. Its total revenues dropped from $954.4 million in Q1’23 to $951.4 million in the last quarter. This figure was clos...
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Warner Music Group (NASDAQ:WMG) stock has jumped by almost 2% after the group reported a strong financial performance for the fiscal second quarter ending March 31, 2024, showcasing robust growth across its Recorded Music and Music Publishing divisions. At press time, May 9, 2024 at 07:32 GMT-4, the Warner Music Group (WMG) stock was trading at $35.65, up +0.56 (1.60%) from the previous market close. The conglomerate, which boasts a rich history spanning over two centuries, has demonstrated resilience and adaptability in an ever-evolving music industry landscape. Solid financial performanceIn ...
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Today, global online gaming platform Roblox Corporation released its Q1 2024 financial results before US markets opened. As one of the most widely used gaming platforms in the United States, and one of the most aggressively growing ones worldwide, Roblox has enormous potential – and investor excitement – built up for the 2024 year. Roblox has previously announced its intentions to penetrate other demographics and markets of an older age than the tweens it’s usually associated with, referring to a large-scale networking and dating platform capability it is building – which could mean massive un...
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Luxury supercar maker Ferrari reported positive earnings for Q1 2024 today, proving that companies which cater to the rich and famous have had far less of the inflationary pressures of other brands. Encouraging sales from the12Cilindri and 12Cilindri Spider models, as well as a higher percentage of clients personalising their already bespoke vehicles, were great contributors according to Ferrari. “Revenues and profits recorded double-digit growth with stable deliveries. This was achieved through an even stronger product and country mix, as well as a greater contribution from personalisations. ...
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The Walt Disney Company today reported some very disenchanting numbers in its second quarter 2024 financial results on May 7, compared with the previous quarter and also the previous year. Where the business did see profits, they were grown heavily by the company’s theme parks and other ‘Experiences’ businesses, in the face of dwindling numbers from Disney’s streaming and Entertainment segments. The financial results Among other results, the company reported $657 million in income (before income taxes), a decrease of 69% year-on-year (YOY). Revenues for the quarter stood at $22 billion, a decr...
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GameStop Corp (NASDAQ: GME) has gained more than 50% in recent weeks but the gain is far from sustainable, as per a Wedbush Securities analyst. GameStop stock could crash to $5.0Michael Pachter continues to rate the video game merchandise retail company at “underperform”. His $5.0 price objective suggests about a 60% downside from here. He remains super dovish on GameStop stock as it needs more than cost cuts to boost profitability. Pachter even forecasts the firm’s demise by 2029 if its revenue continues to sink at the current pace of up to $200 million. In late March, $GME reported its finan...
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Tomorrow, Tuesday 7, of May, the Walt Disney Company (DIS) will report their second quarter earnings for 2024. Of special interest to shareholders will be the company’s ‘Experiences’ business (including its theme parks worldwide). In a recent interview with The Hollywood Reporter, the Walt Disney Company’s ‘chairman of experiences’ Josh D’Amaro revealed that the company intends to invest an eye-watering $60 billion in reinvigorating and updating its theme parks as a core part of its growth strategy for the next decade or more. The major cash injection into the company’s parks – possibly the la...
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