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GameStop store with person walking by
A GameStop on Sixth Avenue in New York City (John Smith/Getty Images)

GameStop rallies on bullish options activity as Michael Burry teases post

And let’s not sell the artist formerly known as “Best Buy Rilie” short, either.

Luke Kawa

What’s good for a video game and collectibles retailer?

New and intriguing characters, apparently.

Shares of GameStop are having a strong start to the week, up over 4% on Monday.

Hedge fund manager turned Substacker Michael Burry teased a post on the retailer this weekend, before saying this would be delayed on account of too much information.

(Cheers to Burry, still relatively new to the publishing-for-profit world, as missing deadlines is a key rite of passage.)

Shares are on track for their biggest one-day gain since October, surpassing their 4.2% advance on November 28, the trading day after Burry published tweets that offered some lore into his time spent as a GameStop bull ahead of its ascendance to meme stock status. Despite delivering its sixth consecutive quarter of positive cash flows from operations in Q3, GameStop sank after reporting earnings last week, as revenues fell about 5% year on year.

On Monday, GameStop’s put/call ratio as of 11:46 a.m. ET was about 0.12, or roughly half of its six-month average.

Burry might bring the kind of main character energy back to GameStop that’s been absent since Keith Gill, aka Roaring Kitty, kicked off another meme rally in the stock in the second quarter of 2024.

Also piquing renewed interest in GameStop may be the exact opposite of a graying finance guy: the company’s recent poach of the artist formerly known as “Best Buy Rilie.” Two videos posted to X featuring the goth TikTok creator have received nearly 50 million views combined since December 10.

Hey, Sydney Sweeney worked for American Eagle...

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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