The company's first-quarter results are due out after the close on Tuesday, June 10
GameStop Corp (NYSE:GME) is gearing up to announce first-quarter results after the close on Tuesday, June 10. The company was in the spotlight after its board approved plans to use corporate dollars to buy Bitcoin (BTC), a move that is part of its investment strategy.
GameStop stock has a generally positive history of post-earnings moves, finishing five of its last eight earnings reports higher, including an 11.7% pop in March. GME averaged a next-day swing of 13.8%, regardless of direction, in the last two years. This time around, the options pits are pricing in a slightly bigger move of 14.4%.
The former meme stock was seen up 1.6% to trade at $30.44, chipping away at a slim 2.7% deficit for 2025. The equity added more than 36% over the last nine months, but has recently taken a breather from its May 28, year-to-date peak of $35.81. Support at the 20-day moving average remains in place to contain any additional pullbacks, too.
Short sellers are firmly in control, with the 49.52 million shares sold short accounting for 12.1% of GameStop stock's available float. It would take short sellers nearly five days to cover their bearish bets, at GME's average pace of trading.
For those looking to capitalize on earnings, options are pricing in relatively low volatility. GME's Schaeffer’s Volatility Index (SVI) of 86% ranks in the 11th percentile of its annual range, indicating premiums are affordable.