GME

Board of Directors member Lawrence Cheng reported a purchase of 55,000 shares of GameStop Corp. (NYSE:GME) in an SEC Form 4 filing dated September 8, 2026. Transaction value based on SEC Form 4 weighted average purchase price ($18.80); post-transaction value based on September 08, 2026 market close ($18.89). What does the 62% trade size relative to prior holdings suggest?The transaction substantially expands the director's exposure through Cheng Capital LLC, moving the total position from 88,000 shares to 143,000 shares. This represents a concentrated increase in equity risk by the reporting owner. How does the transaction price compare to recent market levels?Lawrence Cheng executed the purchase at $18.80 per share, slightly below the $18.89 market close on the same day. As of the September 8, 2026 market close, the stock was priced at $19.37. What is the nature of the insider's equity position?The entirety of the reported position is held indirectly through Cheng Capital LLC. After the transaction, the insider's ownership percentage of the specialty retailer is 0.0319%. Does the filing include any derivative activity?The filing was restricted to the acquisition of Class A Common Stock. There was no reporting of stock options, restricted stock units, or other derivative instruments in this specific transaction. GameStop Corp. operates as a specialty retailer offering new and pre-owned video game consoles, gaming software, accessories including controllers and headsets, virtual reality equipment, as well as collectibles and other entertainment products across physical stores and online platforms in the United States, Canada, Australia, and Europe. The company generates revenue through the sale of collectibles, gaming hardware, software, and accessories across its omnichannel retail network, leveraging both e-commerce capabilities and brick-and-mortar locations to serve collectors, gaming enthusiasts and casual consumers. GameStop's primary customer base consists of hobbyists and collectors, video game enthusiasts, console gamers, and entertainment consumers seeking both new releases and pre-owned products, with a focus on the mass-market collectibles and gaming demographic across developed markets. GameStop Corp. operates as a prominent specialty retailer in the consumer cyclical sector with a market cap of $8.7 billion. The company maintains a diversified product portfolio spanning collectibles, gaming hardware, software, and accessories, positioning itself as a destination retailer for specialty and entertainment products across multiple geographic markets. With trailing 12-month revenue of $3.6 billion, GameStop demonstrates substantial scale within the specialty retail segment, though the company has experienced a one-year share price decline of 18.65% reflecting broader market dynamics in the retail sector. The Sept. 8 purchase of GameStop shares by Board of Directors member Lawrence Cheng signals his strong confidence in the stock, considering he increased his stake by a whopping 62%. He bought on the same day the company announced earnings results for its fiscal second quarter ended Aug. 1. GameStop stock dropped on Sept. 8, and Cheng scooped up 55,000 shares for $18.80 per share. That's near the stock's 52-week low of $17.79 reached in August. GameStop shares are down because the company reported fiscal Q2 sales of $790.2 million, a steep decline from the prior year's $972.2 million. Revenue fell due to store closures and the divestiture of its operations in France. Perhaps Cheng's bullish outlook is because the company's shift toward a collectibles business is succeeding. GameStop's Q2 collectibles revenue reached $356.3 million compared to $227.6 million in the previous year. The company also raised its full-year outlook. Moreover, news reports suggest GameStop's attempt to acquire eBay has transitioned towards a potential partnership instead, with the e-commerce giant possibly using GameStop's physical stores as a new channel to sell products. Before you buy stock in GameStop, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and GameStop wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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GME collectibles revenue surged 57%, driving gross margin from 29% to 44% and powering a BUY rating with a $40 price target. GameStop's $650M EBITDA guide dwarfs Funko's $110M target, while its collectibles margin advantage over Best Buy makes the 14x forward multiple defensible. Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now, and GameStop didn't make the cut. Enter your email to see the names that beat GME. The report is free. Enter your email and see if any of your stocks made the cut. GameStop (NYSE:GME) just delivered a Q2 FY2027 report that materially reshaped the bull case. Collectibles are now the dominant revenue line, gross margin nearly doubled versus the prior year, and management raised the fiscal 2026 Adjusted EBITDA guide. My 24/7 Wall St. price target for GME is $40.26 over the next 12 months, versus a current price of $18.89. That implies 113.15% upside, with our proprietary model registering a buy at high confidence. GME shares have been muted despite the operating turn. The stock is down 5.93% year to date and 18.65% over the past year, essentially flat over the past week. Q2 FY2027 revenue of $790.20 million beat estimates by 4.41%, while adjusted EPS of $0.27 met consensus. Adjusted EBITDA came in at $174 million against $75.70 million a year earlier, and a full-year Adjusted EBITDA guide raised to in excess of $650 million. Our sister coverage at 24/7 Wall St. flagged that GameStop's next big move could matter more than its earnings, a reference to the still-unresolved eBay stake and capital allocation questions. Free Report, Just Released Why Didn't GME Make The Top 10 List? 24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now. And GME didn't make the cut! The report is free, and you can see why we think each stock is a top investment today. Enter Your Email and See the Ten → Collectibles revenue reached $356.30 million, growing 57% and accounting for 45.1% of net sales. That mix shift drove gross margin to 43.7% from 29.1%. Bulls point to $4.85 billion in cash, a $2 billion buyback authorization, and an eBay stake worth roughly $4.9 billion. Our bull-case one-year target sits at $43.09. Options positioning also skews long, with a full-chain put/call ratio of 0.23. Video Games revenue fell to $263.20 million from $494.60 million, and total revenue declined 18.72% year over year. GAAP net income was flattered by a $166.30 million derivative gain and offset by a $75 million loss on digital assets. Bulls counter that the video-game weakness reflects planned store closures, the France divestiture, and the absence of a prior-year Switch 2 launch, all lapping items. Our bear-case one-year target is $30.56, still comfortably above the current price. Best Buy (NYSE:BBY) is the diversified consumer-electronics retail contrast. Best Buy just raised its FY27 adjusted EPS guide to $6.70 to $6.90 on 4.1% comparable sales growth, valuing the shares near 12 times forward earnings. GameStop trades at an implied forward multiple of roughly 14 times on our forward EPS estimate, which looks reasonable given the collectibles-driven margin expansion Best Buy cannot replicate at scale. Funko (NASDAQ:FNKO) is the closest pure-play collectibles comp. Funko's Core Collectibles segment grew 9% in Q2 2026, versus GameStop's 57%, with full-year Adjusted EBITDA guided to $100M to $110M. GameStop's raised guide of over $650 million dwarfs that, yet Funko still trades at a premium multiple. That gap is exactly why our 24/7 Wall St. price target of $40.26 looks reasonable. The 24/7 Wall St. price target is $40.26, the recommendation is buy, and confidence is 90%. The pivotal variable is collectibles margin durability. The setup strengthens if collectibles growth stays above 30% next quarter, and weakens if Video Games revenue keeps falling faster than store-count reductions can offset. These projections assume GameStop continues scaling its collectibles mix and preserving the investment portfolio. Significant upside or downside could result from the proposed eBay transaction or an adverse move in digital-asset holdings. If you have cash sitting in your account right now, give this two minutes. After more than two decades of helping investors beat the market, our top analysts at 24/7 Wall St. put together a definitive report on the Top 10 Stocks To Buy Today. And GME wasn't one of them. They combed the entire market. It's not 10 ideas, not 10 stocks everyone is talking about, it's what their research points to as the 10 best stocks to buy right now, and it's free. Read more here and >;elm:context_link;itc:0;sec:content-canvas" data-yga="{"yLinkElement":"context_link","yModuleName":"content-canvas","yLinkText":"see which stocks made the list -->"}" class="link ">see which stocks made the list -->> Contact [email protected] for any questions or corrections.

GameStop reported second-quarter net income of $298.7 million, or 51 cents per share, on Tuesday, up from $168.6 million, or 31 cents per share, in the same period a year ago, as gains tied to its eBay stake bolstered the bottom line. The company raised its full-year adjusted EBITDA outlook to more than $650 million, from a prior target of more than $600 million set in June. Quarterly revenue fell to $790.2 million from $972.2 million in the year-ago period. GameStop pointed to several headwinds behind the drop, including the absence of a Nintendo Switch 2 launch tailwind from the prior year, ongoing store closures, and the sale of its French business. Adjusted earnings per share came in at 27 cents. Operating income reached $160.2 million, the highest second-quarter operating income in GameStop's history, compared with $66.4 million in the prior-year quarter. Adjusted EBITDA was $174.0 million, up from $75.7 million a year earlier. Collectibles — which include trading cards, apparel, toys, and pop culture merchandise — were the standout category, with net sales rising 57% to $356.3 million, representing 45.1% of total revenue compared with 23.4% a year ago. Video games revenue fell to $263.2 million from $494.6 million, and the pre-owned and refurbished segment slid to $170.7 million from $250.0 million. The eBay investment played a significant role in the quarterly results. As of August 1, GameStop held roughly 43.4 million shares of eBay common stock with a fair value of approximately $4.9 billion. The income statement included a $72.1 million unrealized gain on that equity investment, as well as a $166.3 million gain on a derivative asset, though those items were excluded from the company's adjusted figures. GameStop's results landed inside the profit range it had projected in August. That guidance, the company noted at the time, assumed roughly $238 million in net gains from its eBay position, according to the Wall Street Journal. The results build on a busy stretch for the Grapevine, Texas-based retailer. In the first quarter, GameStop posted what it called the highest quarterly profit in company history, with net income of $389.6 million, boosted by a $268.4 million unrealized gain on options tied to eBay stock. The board also approved a $2 billion share repurchase authorization at that time. GameStop disclosed preliminary second-quarter results in late August, showing the conversion of a derivative position related to eBay into a direct equity stake. The company also announced on September 3 that it completed exchanges retiring approximately $1.4 billion in convertible notes, reducing total long-term debt to approximately $2.8 billion, the company said.

GRAPEVINE, Texas, September 08, 2026--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today released financial results for the second quarter ended August 1, 2026. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. SECOND QUARTER HIGHLIGHTS Operating income of $160.2 million was the highest second quarter operating income in GameStop's history. Collectibles net sales grew 57% year over year to $356.3 million and now represent 45.1% of net sales. The Company had cash, cash equivalents, marketable securities and digital assets and related receivables of $5.4 billion, and investment in eBay Inc. ("eBay") common stock of $4.9 billion as of August 1, 2026. The Company raised its fiscal year 2026 Adjusted EBITDA outlook to in excess of $650 million. SECOND QUARTER OVERVIEW Net sales were $790.2 million for the second quarter, compared to $972.2 million in the prior year's second quarter. The decrease primarily reflects the prior-year launch of Nintendo Switch 2, planned store closures, and the divestiture of the Company's France operations. Collectibles net sales were $356.3 million for the second quarter, or 45.1% of net sales, compared to $227.6 million, or 23.4% of net sales, in the prior year's second quarter. Selling, general and administrative ("SG&A") expenses were $187.1 million for the second quarter, compared to $218.8 million in the prior year's second quarter. Operating income was $160.2 million for the second quarter, the highest second quarter operating income in GameStop's history, compared to operating income of $66.4 million in the prior year's second quarter. Net income was $298.7 million for the second quarter, compared to net income of $168.6 million for the prior year’s second quarter. Adjusted EBITDA was $174.0 million for the second quarter, compared to $75.7 million in the prior year's second quarter. Total cash, cash equivalents, marketable securities, digital assets and related receivables were $5.4 billion at the close of the second quarter. This included $5.1 billion of cash, cash equivalents, and marketable securities (compared to $8.7 billion at the close of the prior year's second quarter) and $0.3 billion in digital assets and related receivables. As of August 1, 2026, the Company held approximately 43.4 million shares of eBay common stock with a fair value of approximately $4.9 billion. As previously announced, on September 3, 2026, the Company completed privately negotiated exchanges retiring approximately $1.4 billion aggregate principal amount of its 0.00% Convertible Senior Notes due 2030 and 0.00% Convertible Senior Notes due 2032, reducing total long-term debt to approximately $2.8 billion. Beginning with this quarter, the Company reports net sales in three categories (Collectibles, Video Games, and Pre-Owned and Refurbished), which aligns with how management views and operates the business. Prior-period amounts have been recast to conform to the new presentation. See "Sales Mix" in Schedule I below. FISCAL YEAR 2026 OUTLOOK For the fiscal year ending January 30, 2027, the Company now expects to generate Adjusted EBITDA in excess of $650 million, an increase from its prior outlook of Adjusted EBITDA in excess of $600 million provided on June 26, 2026. Adjusted EBITDA for the first six months of fiscal year 2026 was $339.7 million. NON-GAAP MEASURES AND OTHER METRICS As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles ("GAAP"), GameStop may use certain non-GAAP measures, such as adjusted SG&A expenses, adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per share, adjusted EBITDA and free cash flow. The Company believes these non-GAAP financial measures provide useful information to investors in evaluating the Company’s core operating performance. Adjusted SG&A expenses, adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per share and adjusted EBITDA exclude the effect of discretely managed items such as certain transformation costs (including severance and other costs), asset impairments, (gain) loss on digital assets and related receivables, (gain) loss on written options on digital assets, (gain) loss on derivative asset, unrealized (gain) loss on equity investment, as well as divestiture costs, which we believe is useful in providing period to period comparisons. Free cash flow excludes capital expenditures otherwise included in net cash flows provided by (used in) operating activities, and therefore measures our ability to generate additional cash from our business operations, which we believe is an important financial measure for use by investors in evaluating the Company's financial performance. The Company’s definition and calculation of non-GAAP financial measures may differ from that of other companies. Non-GAAP financial measures should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. Certain of the items that may be excluded or included in non-GAAP financial measures may be significant items that could impact the Company’s financial position, results of operations or cash flows and should therefore be considered in assessing the Company’s actual and future financial condition and performance. With regard to the Company's fiscal year 2026 Adjusted EBITDA outlook, the Company is not able to reconcile this forward-looking non-GAAP measure to the closest corresponding GAAP measure, net income, without unreasonable efforts because it is unable to predict the ultimate outcome of certain significant items. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by the use of terms such as "anticipates," "believes," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "pro forma," "seeks," "should," "will" or similar expressions. Forward-looking statements are subject to significant risks and uncertainties and actual developments, business decisions, outcomes and results may differ materially from those reflected or described in the forward-looking statements. The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: the performance of our business and our ability to generate earnings in line with our guidance; economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company’s industry; the cyclicality of the video game industry; the Company’s dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company’s sales; interruptions to the Company’s supply chain or the supply chain of our suppliers; the Company’s dependence on sales during the holiday selling season and on the popularity and sale of trading cards; the Company’s ability to obtain favorable terms from its current and future suppliers and service providers; the Company’s ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company’s ability to maintain strong retail and ecommerce experiences for its customers; the Company’s ability to keep pace with changing industry technology and consumer preferences; how the Company incorporates artificial intelligence into workflows and processes, including customer-facing and operational activities, and challenges with properly managing its use; the Company’s ability to manage its profitability and cost reduction initiatives; the Company’s ability to complete its proposed acquisition of eBay; changes in senior management or the Company’s ability to attract and retain qualified personnel; the Company is highly dependent on the services of the Company’s Chairman of the Board and Chief Executive Officer, Ryan Cohen; potential damage to the Company’s reputation or customers' perception of the Company; the Company's ability, or the ability of the third parties with whom we work, to maintain the security of our information technology systems or data (including customer, associate or Company information); the Company's compliance with stringent and evolving laws and other obligations related to data privacy and security; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company’s third party delivery services to deliver products to the Company’s retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company’s vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company’s ability to purchase and sell pre-owned products; the Company’s ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company’s global tax rate; legislative actions; the Company’s ability to comply with federal, state, local and international laws and regulations and statutes; changes to tariff and import/export regulations; potential litigation and other legal proceedings; the value of the Company's investment holdings; concentration of the Company's investment portfolio into one or fewer holdings; the recognition of losses in a particular investment even if the Company has not sold the investment; the execution and timing of share repurchases, if any, under the share repurchase authorization; volatility in the Company’s stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company’s Class A common stock; the issuance of the Company's Class A common stock upon the exercise of the warrants declared as part of the October 7, 2025 distribution to the holders of record of the Company's Class A common stock and holders of the Convertible Notes, in the form of warrants to purchase shares of common stock (the "Warrants"), may depress our stock price; future issuance of additional warrants may adversely affect the market price of the Warrants and the market price of the Company’s Class A common stock; the Warrants do not automatically exercise, and any Warrant that is not exercised prior to their expiration date will lose all financial value; fluctuations in the Company’s results of operations from quarter to quarter; the Company’s ability to generate sufficient cash flow to fund its operations; the $1.5 billion 0.00% Convertible Senior Notes due 2030 (the "2030 Notes") and $2,700 million 0.00% Convertible Senior Notes due 2032 (the "2032 Notes" and, collectively with the 2030 Notes, the "Convertible Notes") are the Company’s obligations only, and substantially all of our operations are conducted through, and a portion of our consolidated assets are held by, our subsidiaries; servicing the Convertible Notes requires a significant amount of cash, and the Company may not have sufficient cash flow from our business to make such payments, and we may incur additional indebtedness in the future; the Company’s ability to incur additional debt; risks associated with the Company’s investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on Company’s financial results; the Company's investment policy permits investments in certain cryptocurrency assets, including Bitcoin and U.S. dollar-denominated stable coins, and to the extent the Company holds Bitcoin or U.S. dollar denominated stable coins, the Company will be exposed to certain risks associated with Bitcoin or stable coins, respectively; the Company’s derivative strategy can expose it to counterparty risk; and the Company’s ability to maintain effective internal control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at www.sec.gov or on the Company’s investor relations website (https://investor.gamestop.com). Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. Preliminary Financial Information With respect to the Company's fiscal year 2026 outlook set forth above, all such projected financial information is preliminary and forward-looking. This estimate is not a comprehensive statement of the Company's financial position or results of operations, and there is no assurance that the Company will achieve its forecasted results within the relevant period or otherwise. Actual results may differ materially from this estimate. GameStop Corp.Schedule II(in millions, except per share data)(unaudited) Non-GAAP results The following tables reconcile the Company's selling, general and administrative expenses ("SG&A expense"), operating income (loss), net income (loss) and net income (loss) per share as presented in its unaudited consolidated statements of operations and prepared in accordance with U.S. generally accepted accounting principles ("GAAP") to its adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per share and adjusted EBITDA. The diluted weighted-average shares outstanding used to calculate adjusted net income per share may differ from GAAP weighted-average shares outstanding. Under GAAP, basic and diluted weighted-average shares outstanding are the same in periods where there is a net loss. The tax adjustments below for the 13 and 26 weeks ended August 1, 2026 include provisions for the tax effects of non-GAAP adjustments. There was no tax impact of non-GAAP adjustments for the 13 and 26 weeks ended August 2, 2025 due to the availability of net operating loss carryforwards and related valuation allowances. The reconciliations below are from continuing operations only. GameStop Corp.Schedule III(in millions)(unaudited) Non-GAAP results The following table reconciles the Company's cash flows provided by operating activities as presented in its unaudited Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the Company’s financial performance. Non-GAAP Measures and Other Metrics Adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share are supplemental financial measures of the Company’s performance that are not required by, or presented in accordance with, GAAP. We believe that the presentation of these non-GAAP financial measures provides useful information to investors in assessing our financial condition and results of operations. We define adjusted EBITDA as net income before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs (including severance and other costs), business divestitures, asset impairments, (gain) loss on digital assets and related receivables, (gain) loss on written options on digital assets, (gain) loss on derivative asset, unrealized gain on equity investment, and other non-cash charges. Net income is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include: certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company’s financial performance, such as a company’s cost of capital and tax structure; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share are provided in addition to, and not as an alternative to, the Company’s financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share may be defined and determined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. View source version on businesswire.com: https://www.businesswire.com/news/home/20260908380341/en/ Contacts GameStop Investor [email protected]