Gamestop Revenue Drop…

Good Morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures were flat on Friday as investors prepare for the latest job data. Right now economists are estimating that the U.S. economy added 185,000 new jobs in May, with the unemployment rate expected to hold steady at 3.9%. Overall, trading was subdued ahead of the report.

While investors await the latest jobs report, we’ll be paying attention to the CPI report next week in Catalyst Cash-Outs. Every time the government releases a report, we have a chance at making big profits, and so far in 2024 we have a 71% win rate on all our catalyst trades.

Click here to get access to our next catalyst pick today.

Here’s a look at the top-moving stocks this morning.

Gamestop Corp. (NYSE: GME)

Gamestop is down 10.46% in premarket trading after reporting a $32 million loss in the fiscal first quarter. The stock was surging late Thursday and early Friday after meme investor Keith Gill, also known as “Roaring Kitty,” announced a YouTube event. A Reddit account previously tied to Gill posted a screenshot claiming their portfolio ballooned to $586 million. The same account also claimed to position in GameStop at that time valued closer to $210 million.

Meme stocks offer the chance for huge profits, but they’re incredibly risky due to their volatility. That’s why our Lead Technical Tactician Nate Bear uses a proven chart pattern system to make consistent winning trades in Profit Surge Trader. Nate has an 80% win rate using this system in 2024.

Click here to learn more about the “post-earnings surge” pattern.

AMC Entertainment (NYSE: AMC)

AMC Entertainment is down 11.05% in premarket trading after the meme stock also got swept up in the Roaring Kitty drama. The stock is down 5.4% overall on the year.

Docusign, Inc. (Nasdaq: DOCU)

Docusign is down 7.93% in premarket trading after its billings guidance dipped below Wall Street expectations. Next quarter’s guidance is calling for revenue to grow 5.7% year on year to $727 million, which would be a slowdown from the 10.5% year-on-year increase. The drop came despite an earnings beat and a billion dollar stock repurchase boost.

Nordstrom (NYSE: JWN)

Nordstrom is up 4.10% in premarket trading after the stock received an upgrade to its Relative Strength Rating from 89 to 92. The stock was down earlier this week after reporting a $39 million net loss in its first-quarter earnings report, claiming that its loyalty rewards program led to “deferred revenue.”

Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team


More from Wake-up Watchlist