GameStop Retail Buzz Spikes As Investors Eye Warrant Issue, Potential Rally This Week
The company will issue special warrants, which can be converted into company shares at a predetermined price next year, on Friday.
Retail chatter around GameStop was surging on Stocktwits early Monday, fueled by multiple headlines but mainly the looming record date for the company’s special warrants.
The ticker was trending in early hours, with users anticipating a surge in the stock in the coming week, ahead of Oct. 3, when GameStop will issue special warrants to shareholders of record.
Investors holding 10 GME shares or certain convertible senior notes will receive one warrant, which is convertible into one GME share at a predetermined price in 2026, according to the company’s announcement on Sept. 9.
“$GME next week big surge is inevitable,” said one user, while another said they desire the warrants.
Retail investors were also discussing the launch of new “Pokémon” and other trading cards on Friday, amid notably strong momentum for the company’s trading cards business.
Meanwhile, last week, Wedbush dropped its coverage of GameStop and stated that it was allocating analyst resources elsewhere. GameStop’s rise as a meme stock, its crypto investments, and divergence in company fundamentals and stock price have made it challenging for analysts to provide traditional analysis on the stock.
Notably, GME stock has risen for four sessions straight, up 18% in total. Year-to-date, it is still down 17%.
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