GameStop can’t stop winning, on track for longest streak of gains since 2022
Unless we jinx it, GameStop is poised for its longest winning streak since 2022, with shares up 3% as of 2:04 p.m. ET.
The video game and collectibles retailer hasn’t posted a down day since September 4 and is poised for its eighth consecutive day of gains. Shares are up nearly 18% over this period, versus a 1.6% advance for the S&P 500.
The bulk of these gains came in the wake of the company’s stellar second-quarter earnings report, which exceeded expectations on the top and bottom lines as well as marking the fifth consecutive quarter of positive operating cash flow generation for the first time in its history.
Including this one, the company has posted eight or more consecutive days of gains on 25 occasions during its history as a publicly traded company.
Its last seven-session winning streak came in mid-July of last year, about a month after Keith Gill (aka Roaring Kitty) disappeared from the scene after his brief reappearance, as part of a relatively violent market rotation into small-cap stocks.
