GAMESTOP EARNINGS REPORT!!! UP AFTER HOURS

Added: 2026-06-03

[00:00:00]What's going on, guys? Welcome back to the channel. Hopefully you guys are all doing well. This is not the kind of update that I was expecting to be getting into today for the video, but we did get Ryan Cohen that dropped GameStop's earnings after hours well in advance of when we were expecting them to have earnings, which is insane. But at the same time, they knocked the earnings out the park. So, we had several different plays and trades that worked out very well for us early this morning and have a few other setups I think will look fantastic going into the back half of the week. And then on top of all that guys, we got GameStop's earnings. I want to give you guys a quick breakdown of that because they are currently up 8% in the after hours and they knocked it out the park. First things first guys, if you have not yet, smash the like button. It does help with the engagement for the video. Thank you guys very much for those you guys who do that on a day in and dayout basis. If you're new here, subscribe to the channel. Welcome to the gang gang. Look forward to daily update videos on the stock on the stock market. And uh for everybody else, if you want to live trade with me and the squad, guys, link in the description. We do live trade every single day. And the trade of the day today wasn't anything that we necessarily took today, but we had calls with Alibaba picking up some calls yesterday off of this beautiful inverse H we saw coming in. Then we saw a little end of the day sell. Still held calls overnight. Gapped up roughly 5 to 6%. Calls were up over 160 to 170% today. It was an absolutely fantastic way to kick off a Tuesday after we had a huge gap up with several different names like Cororeweave and and CRM on Monday. So, we had a beautiful software uh I guess you know gap and go on on Monday followed by software pullback on Tuesday which is okay because we had names like Baba and some other names that we also traded that did extremely well for us. Now to me I don't think this software move is done. I think that we're seeing some pullbacks across the whole sector, which is amazing, especially for those of you guys who didn't get in on the ground floor. You have another opportunity, potentially have another opportunity here to scout out some potential new entry points, right? So, I want to get into that in a second, but first things first, guys, GameStop's earnings. Okay, one revenue up 14%.

[00:02:13]I mean, I gave it overall an A rating.

[00:02:15]And for those of you guys who may be thinking, "Oh, of course you give it an A rating. everyone's going to be giving it a good rating because they're biased cuz they like the stock. That's not true. I've actually given GameStop some pretty horrible ratings. Every single earnings report that and I've posted it on X on Twitter, it's there. C minus, C B minus, even when they are profitable, it's not good enough. It's not what we need to see. We need to see certain things uh change. We need to see certain aspects uh you know see a better increase quarter to quarter, year over year. We have to see margins worked on a little bit better. We have to see more cash flow. We have to see XYZ. This earnings report, guys, solid revenue up 14%. Record Q1 operating income. Record quarterly net income. Gross margins jumped up 40.7%. Cash pile now at 9.7 billion. New $2 billion buyback approved. I stated the old GameStop was fighting to survive. The new GameStop is printing cash, buying back stocks, and sitting on a war chest big enough to make shorts uncomfortable. This is an amazing report for games. Now, do I think they can do better? Yes. Do I think they'll continue to improve? I hope so. You don't know, but you hope so. They're doing everything in the right direction. But, uh, this was shockingly good. Now, do I think there's going to be some sort of huge crazy significant move after this? Not necessarily.

[00:03:34]But, let's go to the technicals here because I do think there's a butt. That's not GME.

[00:03:43]This is a chart that I had for a long period of time and you guys know this is the chart that I had for where I wanted to see us come back down to and I was expecting us to come back down literally 40 cents lower 40 cents lower before earnings and this is where and I told you guys in videos in the past this is where I wanted to long. Did I know GameStop was going to drop the earnings report today?

[00:04:09]No. It kind of caught me off off guard a little bit. It is what it is. I'm not mad at it. You know, we had several other trades today. I don't need another one. But this 2050 to 2075 level is roughly where I want to go long. And I stated that time and time again, weeks in advance. I stated that literally on May 11th. So I stated that roughly 20 some odd days ago that this is where I wanted to go long.

[00:04:34]We got back down into that range. Didn't see low enough, which is cool. And then now we're seeing it currently up 6.8% 8% 7% here in the after hours and back to the top of the trend already. Now to me, if GameStop can hold this gap tomorrow and print the daily candle close, I will only be looking to trade this name long until that gap gets closed or we see a daily candle close well below that gap.

[00:04:59]Okay, very straightforward to me. I've been waiting for an entry long on this name. I waited patiently when this breakout didn't happen. We had we had calls here on this breakout. We had calls here before we saw this beautiful move here. We're able to trim and adjust. We had stopped out after a little bit of a retest here. We fell back into this consolidation space again. I waited for lower here. Didn't quite get the entry lower cuz earnings came out later than expected. They knocked earnings out the park. And now we're just simply looking to see if this can give us something on the lines of a break back above this key level resistance. Let's just say it gaps up here, comes back down to retest, and then I'd be looking for a move back up towards roughly 28 to 29 bucks next. Not bad.

[00:05:40]Now, there is something that I saw yesterday. Moving on, guys. Marvel that had a beautiful gap up and it had a a a 32% day today. On top of that, it also saw a 7% move here in the after hours.

[00:05:52]There's a few other names that are giving very similar looks.

[00:05:57]And to me, that is where the focus will be going into the end of the week. ONDS right has not quite broken above that key level top of the trend here but it is just trying to break back up towards 16 and 1950. I could see O and DS being one of those names that we wake up one morning and it's gapping up 1 2 3% it holds that gap and prints a strong daily candle there as money is been going in to these aircraft/ these drone like companies. ONDS should be uh one of those names that is a huge beneficiary of this. I also saw names like EMP that had some very interesting flow here. Not to mention a very similar daily candle here on EMP we're seeing at the end of the day that we saw on Marvel last night. Looking at this trend here, right, this setup here, that beautiful riding of the 9 EMA consolidating strong daily candle there followed by a god knows what gap up and go because Nvidia mentioned them or I should say Jensen mentioned them during the Nvidia meeting in Taipei. And now going back guys, this is riding the 90 EMA up. Gain that consolidation here. Beautiful daily candle right here. And now I'm looking to see if we can get some sort of gap up and go here to get continuation. Also, I saw names like Oaklo having a beautiful breakout. For those of you guys from the Discord, for those of you guys who trade with me, trade with me live, you guys know this was in the trade idea section. This setup, it was Oaklo, it was LEU as well that also saw a beautiful day today, up 5%. and I think it was up 9% at the highs and looking for a potential macro breakout here. Now, on top of that, I think SMR is also another nuclear name here where if this can get a crack back above roughly 1420, we could see this thing push back up towards 169117 back up to where we were looking to originally go long all the way back here in January.

[00:07:42]Anyways guys, we're going to leave things there for now. There are several different steps we just covered here.

[00:07:47]GameStop knocked earnings out the park.

[00:07:48]The market is still looking on fire. I'm just looking for a little little bit of pullback here. I will be covering now and Microsoft maybe potentially to uh after the market tomorrow because if that's where I think if we see a little bit more downside Palunteer as well if we see a little bit more pullback on those names I can start looking for some entries there and I'd love to talk to you guys about that after the market closes. All right, if you have not yet guys smash the like button if you're new here. Subscribe to the channel if you want to live trade with us guys and get in well advance of all of these trades and moves and ideas link in the description below to do so guys. You can jump in there and trade with us starting tomorrow during the market open. All right, much love. Catch you guys on the flip side.