Inflation is a top priority for Biden, policymakers to addressKeeping California ports open is vital to not exacerbate supply chain issuesYellen was humble enough to admit earlier in the day that she was wrong about the inflation path, after having said that inflation only posed a „small risk“ last year. Her comments above aren’t anything major but this was what she said earlier:“As I mentioned, there have been unanticipated and large shocks to the economy that have boosted energy and food prices and supply bottlenecks that have affected our economy badly that I didn’t – at the time – didn’t fully understand, but we recognize that now.“

Gamestop Earnings Results

Gamestop revenue for the
quarter is: Stay tuned, coming tonight!
Gamestop EPS for the quarter
is: Stay tuned, will be updated tonight!
The key takeaways for Gamestop
Q1 2022 Quarterly Earnings Report are: Coming soon, after market close
today.

See also Gamestop’s
Investor Relations website and the recent Gamestop 2022 Proxy Statement

When
is Gamestop Earnings?

Gamestop is reporting today
after the normal trading hours. That is after market close (AMC) on Wed,
June 01, 2022. 
The name of this earnings
report is ‘Gamestop Q1 2022 Quarterly Earnings Report’ and it announces
the company’s business results for Nov 2021, Dec 2021 and Jan 2022. 
The name of the Gamestop’s next
earnings report is ‘Gamestop Q2 2022 Quarterly Earnings Report’ and it is
expected to be announced (unconfirmed) on 01 Sept, 2022, for the Quarter
ending Apr 2022.

Gamestop
Earnings and the Stock’s Expected Move

The options market is pricing a
19.5% move (up or down) for Gamestop Q1 2022 Quarterly Earnings.

 

Will
Gamestop Stock Go Up? Watch This Video by ForexLive.com

Gamestop Q1 2022 Quarterly Earnings
Report: A Different Technical Analysis Preview – Watch Video

Could another short squeeze be in the making for
Gamestop’s Q1 2022 Quarterly Earnings?

Gamestop keeps making the news and if you know
anyone who is even remotely social trading, you have probably heard about the GME
“MOASS” theory (mother of all short squeezes).

But before we get ahead of ourselves, let’s talk
real numbers.

Q4 2021 Earnings Recap

In 2021 many investors were wondering if
Gamestop knew what it wanted to be. The company’s Q4 earnings answered with a
sound yes.

Here are the major moves for GME for Q4 2021

Gamestop expanded their online
store and began featuring different products like TVs, PC components,
Toys, and so forth.
Gamestop also established major
partnerships, locking in deals with PC gaming giants like Corsair,
Alienware, and Lenovo, all of which contributed to the company’s sales
growth.
But the partnerships didn’t
stop there as GME moved into the cryptosphere by joining forces with
Immutable X and Loopring as development of the company’s marketplace
began.
Furthering GME commitment to
blockchain tech, the company hired experts in blockchain gaming, tech, and
ecommerce.
The roadmap for 2022 was also
laid out as Gamestop planned to expand its offerings as it began building
the Gamestop NFT Marketplace and the Gamestop Wallet. 
Gamestop generated net sales of
$2.254 billion, up from to $2.122 billion (Q4 2020), and $2.194 billion
(Q4 2019).
In terms of PowerUp rewards
membership, GME experienced a 32% growth on a yoy basis.
Gamestop also revamped its app.
GME’s new app is now more user friendly but also took strides in terms of
scalability, product catalog, and functionality. 

Gamestop 2021: some extra notes

Looking back at 2021’s fiscal year, GME
generated net sales of $6.011 billion, a staggering extra billion when compared
to 2020 ($5.090 billion). It also ended the fiscal year with $915 million in
inventory (up from $602.5 million in 2020).

Gamestop raised around than $1.67 billion in
capital and managed to eliminate all its long-term debt (other than a $44.6
million low-interest, unsecured term loan which is related to the COVID-19
response). 

Has the market been sleeping on GME? 

To many, Gamestop will forever be a meme
stock.  To those who follow the company’s move closer, however, Gamestop’s
transformation is looking better by the day.

GME has cash in hand, and it stopped being a
video game retailer a long time ago (and if you weren’t paying attention, the
company’s new hires, like the executives from Amazon, Apple, and Microsoft were
a major tell).

In terms of brand, Gamestop developed its image
way beyond the dusty old brick-and-mortar stereotype by betting on inventory
during a low inflation and low borrow fees environment, and by adding delivery
and fulfillment centers.

This move reflects GME’s commitment in meeting
demand and mitigating any supply chain setback that may come their way.

Moreover, the company diversified its revenue
streams by pivoting into stronger growth fields like the blockchain space.
Its marketplace move alone should be a solid growth driver going forward (to
contextualize, OpenSea’s valuation is an estimated $13 Billion alone).

Gamestop has cleaned up. It’s leaner, it has
cash in hand and nearly no debt. Its move into the cryptosphere and bet on the
$150 billion gaming industry can prove successful in the upcoming years. 

But as historical data has shown us, GME tends
to be volatile following its quarterly results. And while some still see it as
a bet, others see a lot of value which hasn’t been priced in.

Can we see another GME short squeeze?

It is important to understand that previous to
this earnings report, Gamestop’s borrow rates have been rising by the day.

The cost to borrow has gone up significantly
and, in tandem, GME’s utilization rate has been 100% for more than 70
consecutive trading days.

This means that there might not be any available
shares left to short and short sellers need to find other resources to continue
shorting if they so wish.

However, those elements alone might not be sufficient
to trigger a short squeeze.  Buying pressure must be added to the mix so
it will all be up to the GME earnings report. 

As such, we couldn’t say it better than Ryan
Cohen himself: you might want to buckle up.

ForexLive.com visitors were also previously
interested in:

GameStop Entering NFT and Cryptocurrency Markets
GameStop back at it again as pre-market trades up
18%

Prior 6.8%

The jobless rate in the euro area remains unchanged at a record low of 6.8%, reaffirming more solid labour market conditions in the region amid the recovery from the pandemic.

German policymakers have been pushing this proposal i.e. reinstating the ‚debt brake‘ for a while now and are spinning the inflation narrative to their favour. They are saying that the government needs to avoid spending that stokes inflation, namely long-term subsidies such as those for new homes or electric cars.It will be interesting to see how policymakers will try to balance all of that out as the economy is already starting to look like it is running into some troubling headwinds. Add to the fact that the inflation surge will stay for longer and energy prices in the region are burdening households considerably, it’s going to be a real challenge.

Cyprus’
iFX Expo is sounding better by the second as FxGrow
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iFX
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In his three-part plan outlined yesterday, Biden said that he won’t meddle with the Fed:“First, the Federal Reserve has a primary responsibility to control inflation. My predecessor demeaned the Fed, and past presidents have sought to influence its decisions inappropriately during periods of elevated inflation. I won’t do this. I have appointed highly qualified people from both parties to lead that institution. I agree with their assessment that fighting inflation is our top economic challenge right now.“As such, it will be interesting to see what they will be discussing today. I mean, there is very little to be said if Biden is going to let the Fed do its job and he has no intentions to interfere. I guess he may seek for more clarification from Powell on the Fed’s plans but that could arguably be done over the phone.I’m inclined to believe that the meeting today has some element of being just for the optics. Let’s not forget, the US midterm elections is now roughly just five months away. Tick tock, tick tock.

ECB mandate is to stick with 2% inflation target in the medium-termWhat we can do is to gradually remove stimulusActions will be enough to accommodate to the mandateThere doesn’t seem to be much change to the narrative at least for now. The euro is keeping lower on the day though, down 0.7% against the dollar to 1.0700 currently. The 200-hour moving average at 1.0676 will be a key near-term level to eye for additional support as the dollar holds firmer on the day.

Money markets now expect a 115 bps worth of tightening by the ECB by year-end, with 40% odds of a 50 bps rate hike in July. That is seen up from the 110 bps priced in at the end of last week.
However, with headline inflation crossing 8%, it isn’t just so much a story of energy prices surging already. The jump in price pressures is evident across all areas:

The question now is, can the ECB still stick to the script and only hike rates after ending asset purchases in July?If this is their queue to act, then why not next week then? I mean considering all the communication as of late, the imminent rate hike feels like semantics at this point. There’s going to be a lot of built-up pressure in the background surely as to the discussions for why they should wait until July before acting.As such, just be wary that we might get some murmurs about how those discussions are going and that could set up a more nervous backdrop to next week’s meeting. It may not yet be a ‚live‘ one based on what policymakers have told us, but let’s see what the ECB message after today will be to make sure.

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Headlines:Reminder: US markets are closed todayECB’s Lane: ECB should hike rates by 25 bps incrementsBOJ’s Kuroda: Rapid yen weakening not due to BOJ policyShanghai to resume basic operations for bus, rail transport from 1 JuneRussia oil embargo to be part of EU sanctions package, but final agreement left for laterSaxony May CPI +8.0% vs +7.2% y/y priorSpain May preliminary CPI +8.7% vs +8.3% y/y expectedGermany April import price index +1.8% vs +2.0% m/m expectedSNB total sight deposits w.e. 27 May CHF 754.0 bn vs CHF 754.1 bn priorSwitzerland May KOF leading indicator index 96.8 vs 102.3 expectedMarkets:EUR leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.8%Gold up 0.1% to $1,855.53WTI crude up 0.7% to $113.03Bitcoin up 6.6% to $30,647It was a quiet session for the most part as markets carried over the trading themes from last week.With it being a US holiday, there is little conviction to switch things around. The dollar weakened and equities are gaining modestly as we get things going on the new week. Meanwhile, economic data suggests inflation continues to run rampant in Europe with upside surprises seen in Spain and Germany.EUR/USD gained modestly from around 1.0740 to 1.0780 while GBP/USD pulled higher from 1.2630 to 1.2650 levels on the session. The dollar is softer for the most part, only gaining against the yen and franc in more risk-on trading.AUD/USD is also seen up 0.3% to close in on 0.7200 while USD/CAD is down 0.3% to below 1.2700 on the day.European indices are posting decent gains as equities are kicking things off on the right foot this week, while US futures are carrying over the positive mood from the cash market last week with solid gains today.