GameStop wants to buy back $2 billion of its own stock after an eBay-fueled selloff
Earnings
GameStop reported a 14% Q1 revenue gain driven by collectibles and announced a $2 billion share buyback, yet the stock sold off ~2% post-announcement, likely on continued concern about the eBay partnership diluting the buyback narrative. The buyback represents roughly 10% of market cap at current prices, which is a real capital return signal, but the bear consensus (4 Sells, 2 Strong Sells vs. 2 Holds, no Buys) and absence of any published price target suggest Wall Street sees structural decline regardless.
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Angle
↓ SHORT-15% target+8% stop3-5 weeks
Fade the GME buyback bounce — street is 6/8 bearish with no price target floor, and collectibles-driven revenue is no structural fix for a dying retail model.