GME at a glance
The past year
Chart+21.0% $25.85, close Nov 13
- From the highest close
- −7.7%
- Vs the 200-day average
- +13.3%
Short interest
History42.4M shares
- Of shares outstanding
- 8.40%
- Since the last report
- −11.7%
- Days to cover
- 5.3 days
- Settled
- Oct 30, 2026
Congress and officials
TradesNone in 90 days
- Disclosed trades on record
- 11
Insider buying, 7 days
FilingsNone filed this week
- Form 4s filed
- Nov 8 – Nov 14
Top investors
Funds1 of 37 funds hold it
- Ray Dalio
- 0.0%
- Latest 13F filings
- 1 added · 0 cut
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
GME price history
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Investment thesis
What must happen next
Revenue stabilizes enough that the business is not overwhelmed by continued top-line shrinkage.HoldingMateriality: High
Next reported annual revenue is flat to positive, or declines less than 5% year over year while profitability remains positive. This is a load-bearing condition for GameStop's investment case.
Watch: Annual revenue declines more than 10% year over year, or quarterly revenue declines reaccelerate for two straight reports.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Next reported annual revenue is flat to positive, or declines less than 5% year over year while profitability remains positive.
Open source ↗Gross-profit dollars continue to hold up even if sales are not growing, showing the turnaround is not dependent on chasing low-margin revenue.HoldingMateriality: High
Gross_profit rises year over year, or gross margin expands enough to offset flat-to-down revenue. This is a load-bearing condition for GameStop's investment case.
Watch: Gross_profit falls year over year and gross margin compresses in the same reporting period.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross_profit rises year over year, or gross margin expands enough to offset flat-to-down revenue.
Open source ↗The cost reset is durable: GameStop remains an operating-profitable retailer rather than reverting to losses.HoldingMateriality: Medium
Operating_income stays positive in the next annual filing and remains positive across interim reports. This is a load-bearing condition for GameStop's investment case.
Watch: Two consecutive quarterly operating losses, or a full-year operating loss.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating_income stays positive in the next annual filing and remains positive across interim reports.
Open source ↗Reported earnings remain cash-backed, not merely accounting gains.HoldingMateriality: Medium
Operating_cash_flow remains positive on a trailing-twelve-month basis and tracks in the same direction as net income. This is a load-bearing condition for GameStop's investment case.
Watch: Trailing-twelve-month operating_cash_flow turns negative despite reported profitability.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating_cash_flow remains positive on a trailing-twelve-month basis and tracks in the same direction as net income.
Open source ↗The cash balance remains a strategic asset rather than being consumed by operating deterioration or poor capital allocation.HoldingMateriality: Medium
Cash remains broadly intact, or any large drawdown is tied to a disclosed investment, acquisition, or capital return while operating_cash_flow stays positive. This is a load-bearing condition for GameStop's investment case.
Watch: Cash falls more than 20% year over year without positive operating_cash_flow or a clearly disclosed value-creating use.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash remains broadly intact, or any large drawdown is tied to a disclosed investment, acquisition, or capital return while operating_cash_flow.
Open source ↗
Full investment case & evidence
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Original research
Revenue stabilizes enough that the business is not overwhelmed by continued top-line shrinkage. This is a load-bearing condition for GameStop's investment case.
Gross-profit dollars continue to hold up even if sales are not growing, showing the turnaround is not dependent on chasing low-margin revenue. This is a load-bearing condition for GameStop's investment case.
The cost reset is durable: GameStop remains an operating-profitable retailer rather than reverting to losses. This is a load-bearing condition for GameStop's investment case.
Reported earnings remain cash-backed, not merely accounting gains. This is a load-bearing condition for GameStop's investment case.
The cash balance remains a strategic asset rather than being consumed by operating deterioration or poor capital allocation. This is a load-bearing condition for GameStop's investment case.
All standing thesis claims
Original report summary
you believe Ryan Cohen can turn a shrinking retail-computer/software chain with a large cash balance into a durable cash-generating business before revenue decay overwhelms the turnaround.
Bull case and bear case
Bull case and bear case for GameStop
Where the evidence on GameStop stands: Holding on the latest evidence (Oct 14, 2026). Of its 5 thesis points, 5 holding.
Bull case: what the evidence supports
Revenue stabilizes enough that the business is not overwhelmed by continued top-line shrinkage.
Gross-profit dollars continue to hold up even if sales are not growing, showing the turnaround is not dependent on chasing low-margin revenue.
The cost reset is durable: GameStop remains an operating-profitable retailer rather than reverting to losses.
Reported earnings remain cash-backed, not merely accounting gains.
The cash balance remains a strategic asset rather than being consumed by operating deterioration or poor capital allocation.
Bear case: what would count against it
Annual revenue declines more than 10% year over year, or quarterly revenue declines reaccelerate for two straight reports.
Gross_profit falls year over year and gross margin compresses in the same reporting period.
Two consecutive quarterly operating losses, or a full-year operating loss.
Company research
Research on GameStop
- Reporting · Is the Collectibles Pivot Paying Off for GameStop Corp. (NYSE: GME)?
Collectibles are growing and margins have improved. Falling total sales and a mixed cash-flow picture show what the retail pivot still needs to prove.
Thesis-Break Engine
Thesis-break watch · GameStop
No break has crossed GameStop’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
GameStop filed an SEC 8-K on 2026-09-08: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
GameStop filed an SEC 8-K on 2026-08-31: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
GameStop filed an SEC 8-K on 2026-08-03: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Annual revenue declines more than 10% year over year, or quarterly revenue declines reaccelerate for two straight reports.
- Gross_profit falls year over year and gross margin compresses in the same reporting period.
- Two consecutive quarterly operating losses, or a full-year operating loss.
- Trailing-twelve-month operating_cash_flow turns negative despite reported profitability.
- Cash falls more than 20% year over year without positive operating_cash_flow or a clearly disclosed value-creating use.
GME news
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Financial statements
GME income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
GME: quick answers
- When does GameStop (GME) report earnings next?
- GameStop's next results are projected for December 8, 2026, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on September 8, 2026. Earnings calendar
- What is GME's short interest?
- As of October 30, 2026, 42.4M GME shares were sold short, 8.40% of its shares outstanding, down 11.7% from the count before. At the stock's average daily volume that is 5.3 days to cover. FINRA publishes the count twice a month. GME short interest history
- Have members of Congress traded GME?
- 11 trades in GME have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed GME trade
- Which well-known investors own GME?
- 1 of the 37 well-known funds tracked here reported GME shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
GME in well-known investors’ portfolios
1 of 37 funds reported GME shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.00% | $931K | New | Q2 2026 |