MemeMoney: GameStop: Cash burn and lack of profitability loom large over meme stock darling

by | Sep 15, 2022 | Stock Market

Meme stock GameStop has been on a wild ride in the last couple of years, but cash burn and lack of profitability loom large over the video game retailer. Last week GameStop Corp’s
GME,
+0.66%
stock surged after the the company reported a narrower-than expected loss and also announced a partnership with cryptocurrency exchange FTX.

GameStop shares, which have fallen 24 % this year, have risen 9% in the last five days. The S&P 500 Index
SPX,
-0.93%
has declined 17.9% and 2.3%, respectively over the same periods. Like AMC Entertainment Holdings Inc.
AMC,
-0.35%,
G …

Article Attribution | Read More at Article Source

Share This