GameStop Corp. (NYSE:GME), Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY)
Following the announcement of new cooperation with FTX, shares of GameStop Corp. (NYSE:GME) have increased and are now in the green. The revelation of the cooperation comes after GameStop launched an NFT marketplace in July in association with Immutable X, as part of GameStop’s larger Web3 ambitions. Following a good second-quarter earnings announcement, the Lovesac Company (NASDAQ:LOVE) also trended higher at the same time.
Due to a shortfall in results, Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) is losing money. Following the company’s announcement that it will be raising money through the sale of convertible senior notes, shares of Wayfair (NYSE:W) are also down.
Gainers
GameStop Corp. (NYSE:GME) saw a 6.6% increase in value during Thursday’s premarket trading session after the company disclosed that it has partnered with FTX. The collaboration aims to introduce more GameStop customers to the FTX community and its digital asset exchanges.
After The Lovesac Company (NASDAQ:LOVE) beat Wall Street’s expectations for its Q2 profits, its share price increased by 10.1%. The stock outperformed both the revenue and GAAP EPS forecasts for the second quarter. LOVE reported GAAP EPS for the second quarter of $0.45, above estimates by $0.04, and revenue for the quarter of $148.5M (+45.0% Y/Y), beating forecasts by $17.99M.
Decliners
Following a missed earnings estimate, Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) has decreased by 3.5%. PLAY’s Q2 GAAP EPS of $0.59 fell $0.45 shy of its Q2 GAAP EPS target. However, PLAY exceeded revenue by $35.44 million.
Wayfair (W) is down 8.5% after announcing plans to sell $600 million in convertible senior notes with a 2027 maturity.
Featured Image- Megapixl @Jetcityimage
Author Jowi Kwasu