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GME · Analysis updated Nov 6, 2026, 4:48 PM ET
Why is GameStop (GME) stock moving?
GME closed at $24.17 on Nov 5. That is down from about $26.4 in mid-October and from a 15-month high of around $27 on Oct 13. The pullback came as the Oct 30 warrant expiry passed. The stock bottomed near $23.3 on Oct 27-28 and has since stabilized in a $24-25 range. A StoneX Buy initiation with a $33 target on Nov 2 and a Yorkville Ives Buy with a $32 target on Oct 6 support the view that the transformation is working. CEO Ryan Cohen's repeated open-market buying, including 844K shares at $26.98 on Oct 13, adds to that. The fundamentals are mixed. Q2 net sales fell 18.7% to $790.2M, but operating income hit a Q2 record $160.2M, collectibles grew 57%, and full-year adjusted EBITDA guidance rose to more than $650M. Cash and securities of about $5B and a $4.9B eBay stake give a cushion. Earnings are partly driven by eBay gains, and the shrinking legacy retail business remains a risk. The unresolved eBay takeover pursuit adds uncertainty. Volume has been moderate, with no panic selling since the Oct 22 spike.
News behind the analysis
- StoneX Makes Major Call on GameStop StockStoneX initiated coverage with a Buy rating and a $33 price target. It says Ryan Cohen has rebuilt the earnings base and that collectibles add another growth avenue.
- GameStop (GME) Stock Price & AnalysisOptions sentiment on GME is mixed, with shares near $24.29. StoneX's Buy initiation and the warrant expiration are among the recent headlines.
- GameStop Stock Price, Quote & NewsAnalyst table shows StoneX initiated at Buy on Nov 2 and Yorkville Ives initiated at Buy with a $32 target on Oct 6. Headlines also cite a 3.86% one-day drop in the stock.
- GME Stock Price, News & AnalysisGameStop's warrants were removed from the exchange after expiring on Oct 30. The company also amended its convertible notes exchange, with about $358.4M to be settled in cash.
- GameStop Stock Price, Chart & NewsNews flow includes the StoneX initiation, the warrant expiry reminder, and a 15-month high for the stock. Ryan Cohen disclosed buying 844K shares at $26.98 on Oct 13.
- GameStop Stock Hits 52-Week High as CEO Cohen Buys $23M in SharesCEO Ryan Cohen's purchase of about $22.77M in stock lifted shares in extended trading. The stock reached a 52-week high.
- GameStop - GME - Stock Price & NewsQ2 net sales fell 18.7% to $790.2M, but net income rose 77.2% to $298.7M. Cash and securities were $5.06B and the eBay stake was worth $4.9B.
- GameStop Discloses Second Quarter 2026 ResultsQ2 operating income was $160.2M, a Q2 record. Collectibles sales grew 57% to $356.3M, and FY26 adjusted EBITDA guidance was raised to more than $650M.
- GameStop Q2 2026 earnings: profit rises, full-year outlook raisedQ2 adjusted EBITDA was $174.0M, up from $75.7M a year earlier. Adjusted EPS was $0.27, and the eBay stake helped the bottom line.