GameStop, Oracle Lead Retail Investors' Focus on Earnings and New Products
Five stocks dominated retail investors' attention this week on X and Reddit's r/WallStreetBets. GameStop Corp (GME) reported its second-quarter results, beating revenue estimates but down year-over-year. The company saw record operating income of $160.2 million and collectibles sales up 57% to $356.3 million.
CEO Ryan Cohen bought 1 million shares on September 10 for approximately $20.4 million, while directors also made smaller purchases. Select previously closed stores began reopening nationwide on September 11.
The stock traded between $17.79 and $28.10 per share over the past year, with a decline of 16.33% in that time. Apple (AAPL) unveiled its first foldable iPhone Duo at a $1,999 price point during its 'Surprise and Shine' event on September 9.
The company also updated various products, including the Apple Watch Series 12/Ultra 4 and AirPods 5. Despite new launches, some retail traders were bearish on AAPL stock.