According to online chatter amongst retail investors, the company’s earnings don’t matter to them.
SAN ANTONIO — Investors got a snapshot of GameStop’s financial health Tuesday. The company released its fourth quarter earnings report and the figures were lower than analysts anticipated.
GameStop’s 2020 net sales for the fourth quarter were $2.122 billion versus $2.194 billion in the fiscal 2019 fourth quarter. The company’s net income was $80.5 million or $1.19 per diluted share. Wall Street analysts had projected slightly higher numbers for both figures. But GameStop’s global e-commerce sales increased 175% and represented 34% of net sales in the fourth quarter compared to 12% of net sales in the same time last year.
According to online chatter amongst retail investors, the company’s earnings don’t matter to them. Many of them are planning to stay the course and not sell their shares. They are encouraging new investors to join them. …