GameStop (GME)
Market Price (12/4/2025): $23.23 | Market Cap: $10.4 BilSector: Consumer Discretionary | Industry: Computer & Electronics Retail
GameStop (GME)
Market Price (12/4/2025): $23.23Market Cap: $10.4 BilSector: Consumer DiscretionaryIndustry: Computer & Electronics Retail
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -39% | Weak multi-year price returns2Y Excs Rtn is -7.7%, 3Y Excs Rtn is -81% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 75x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.08, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -15%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -14% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & Digital Retail. Themes include Gaming Content & Platforms, and Online Marketplaces. | Short seller report |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -39% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and E-commerce & Digital Retail. Themes include Gaming Content & Platforms, and Online Marketplaces. |
| Weak multi-year price returns2Y Excs Rtn is -7.7%, 3Y Excs Rtn is -81% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.08, Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 75x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -15%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -14% |
| Short seller report |
Valuation, Metrics & Events
GME Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
1. GameStop reported better-than-expected second-quarter fiscal 2025 earnings.
The company disclosed its Q2 2025 results on September 9, 2025, reporting earnings per share (EPS) of $0.25 against analyst estimates of $0.19, and revenue of $972.2 million, surpassing the consensus of $823.3 million. This significant beat contributed to a positive movement in the stock, with reports indicating an uptick of over 4% on September 10, 2025.
2. GameStop announced a special dividend in the form of warrants to shareholders.
Alongside its Q2 earnings report on September 9, 2025, GameStop announced a special dividend where shareholders would receive one warrant for every ten shares owned. These warrants allowed holders to purchase one share of common stock at an exercise price of $32.00, with distribution occurring around October 7, 2025.
3. A resurfaced 2019 email from Michael Burry reignited retail investor interest.
On November 28, 2025, GameStop's stock saw a 3.6% increase after "Big Short" investor Michael Burry posted an old email from 2019, which detailed exchanges between him, "Roaring Kitty" (Keith Gill), and Ryan Cohen. This historical correspondence reignited retail interest and contributed to a rally of over 8.5% in the stock in the days leading up to December 3, 2025.
4. Anticipation built for the third-quarter fiscal 2025 earnings report.
Leading up to the scheduled Q3 2025 earnings release on December 9, 2025, there was considerable anticipation and bullish sentiment among traders. Analysts projected an increase in both revenue and earnings per share for the quarter, further fueling positive market activity and options trading.
5. JPMorgan Chase & Co. significantly increased its stake in GameStop.
During the second quarter of 2025, JPMorgan Chase & Co. increased its holdings in GameStop by 28.3%, acquiring an additional 226,234 shares. This brought their total ownership to 1,025,993 shares, valued at approximately $25.0 million, demonstrating notable institutional confidence in the company.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| GME Return | 210% | 688% | -50% | -5% | 79% | -27% | 1401% |
| Peers Return | 40% | 15% | -28% | 21% | 35% | 6% | 100% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 112% |
Monthly Win Rates [3] | |||||||
| GME Win Rate | 58% | 50% | 33% | 50% | 50% | 30% | |
| Peers Win Rate | 57% | 55% | 35% | 58% | 65% | 56% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| GME Max Drawdown | -54% | -8% | -52% | -35% | -43% | -36% | |
| Peers Max Drawdown | -24% | -5% | -38% | -12% | -7% | -21% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: AMZN, WMT, TGT, EBAY, BBY. See GME Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)
How Low Can It Go
| Event | GME | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -88.3% | -25.4% |
| % Gain to Breakeven | 756.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -55.6% | -33.9% |
| % Gain to Breakeven | 125.4% | 51.3% |
| Time to Breakeven | 150 days | 148 days |
| 2018 Correction | ||
| % Loss | -87.9% | -19.8% |
| % Gain to Breakeven | 726.2% | 24.7% |
| Time to Breakeven | 517 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -72.4% | -56.8% |
| % Gain to Breakeven | 261.7% | 131.3% |
| Time to Breakeven | 4446 days | 1480 days |
Compare to AMZN, WMT, TGT, EBAY, BBY
In The Past
GameStop's stock fell -88.3% during the 2022 Inflation Shock from a high on 1/27/2021. A -88.3% loss requires a 756.1% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to GME. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 6.8% | 6.8% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.5% | 0.5% | 0.0% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -2.6% | -2.6% | -2.6% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.7% | 3.7% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 1.3% | 1.3% | -1.6% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BBWI | Bath & Body Works | Dip Buy | DB | Insider Buys | Low D/EDip Buy with Strong Insider BuyingBuying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 6.8% | 6.8% | 0.0% |
| 11262025 | HRB | H&R Block | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 0.5% | 0.5% | 0.0% |
| 11262025 | LRN | Stride | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -2.6% | -2.6% | -2.6% |
| 11212025 | ABNB | Airbnb | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.7% | 3.7% | 0.0% |
| 11212025 | MTN | Vail Resorts | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 1.3% | 1.3% | -1.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for GameStop
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 86.46 |
| Mkt Cap | 39.6 |
| Rev LTM | 73,619 |
| Op Inc LTM | 3,831 |
| FCF LTM | 2,176 |
| FCF 3Y Avg | 2,522 |
| CFO LTM | 4,225 |
| CFO 3Y Avg | 4,882 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.6% |
| Rev Chg 3Y Avg | 0.4% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Mgn LTM | 4.7% |
| Op Mgn 3Y Avg | 4.6% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 9.5% |
| CFO/Rev 3Y Avg | 6.4% |
| FCF/Rev LTM | 3.0% |
| FCF/Rev 3Y Avg | 3.5% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 39.6 |
| P/S | 2.0 |
| P/EBIT | 20.1 |
| P/E | 24.7 |
| P/CFO | 19.8 |
| Total Yield | 5.1% |
| Dividend Yield | 1.1% |
| FCF Yield 3Y Avg | 4.2% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.0% |
| 3M Rtn | 1.0% |
| 6M Rtn | 8.4% |
| 12M Rtn | -1.6% |
| 3Y Rtn | 45.6% |
| 1M Excs Rtn | 0.1% |
| 3M Excs Rtn | -6.4% |
| 6M Excs Rtn | -6.4% |
| 12M Excs Rtn | -14.2% |
| 3Y Excs Rtn | -22.1% |
Comparison Analyses
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 7312025 | 9092025 | 10-Q 8/2/2025 |
| 4302025 | 6102025 | 10-Q 5/3/2025 |
| 1312025 | 3252025 | 10-K 2/1/2025 |
| 10312024 | 12102024 | 10-Q 11/2/2024 |
| 7312024 | 9102024 | 10-Q 8/3/2024 |
| 4302024 | 6112024 | 10-Q 5/4/2024 |
| 1312024 | 3262024 | 10-K 2/3/2024 |
| 10312023 | 12062023 | 10-Q 10/28/2023 |
| 7312023 | 9062023 | 10-Q 7/29/2023 |
| 4302023 | 6072023 | 10-Q 4/29/2023 |
| 1312023 | 3282023 | 10-K 1/28/2023 |
| 10312022 | 12072022 | 10-Q 10/29/2022 |
| 7312022 | 9072022 | 10-Q 7/30/2022 |
| 4302022 | 6012022 | 10-Q 4/30/2022 |
| 1312022 | 3172022 | 10-K 1/29/2022 |
| 10312021 | 12082021 | 10-Q 10/30/2021 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | Moore Daniel William | PFO and PAO | 10022025 | Sell | 27.58 | 6,509 | 179,534 | 3,106,341 | Form |
| 1 | Robinson Mark Haymond | General Counsel and Secretary | 10022025 | Sell | 27.58 | 4,449 | 122,715 | 3,097,570 | Form |
| 2 | Moore Daniel William | PFO and PAO | 9032025 | Sell | 22.68 | 830 | 18,824 | 2,701,846 | Form |
| 3 | Robinson Mark Haymond | General Counsel and Secretary | 7252025 | Sell | 24.18 | 11,055 | 267,315 | 2,823,823 | Form |
| 4 | Attal Alain | 4102025 | Buy | 25.75 | 10,000 | 257,500 | 14,740,948 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |