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Stock to Put under Your Radar this Week: GameStop

Investors will focus this week on growing bond yields

Investors will most probably focus this week on growing bond yields which have recently become a major signal for equity trading. The activity in the bond market, where the major stocks have rallied to pre-pandemic rates, made some traders and investors concerned about rising inflation, which would most probably prompt the US central bank to begin increasing interest rates before the expected periods.

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As bond prices rally to higher rates amid clear signs of an economic revival, traders prefer to get rid of high risk growth stocks and shift their funds to cyclical equities, which were popular in last year’s rally.

That rotation trade has influenced the NASDAQ Composite, pressuring it during the last couple of weeks. One of the top tech-heavy indexes trends down 7% compared to its high rates around a month ago. Bearing this macro forecast in mind, here is a top stock investors will closely watch this week.

GameStop

GameStop (NYSE:GME), an American video game, consumer electronics, and gaming merchandise retailer preferred by Reddit ‘revolutionists,’ will be sharing its fourth-quarter earnings release on Tuesday, Mar. 23rd, after the market closes. Analysts, on average, are predicting $1.35 per share profit on sales of $2.21 billion.

The company’s latest earnings release would be announced after the retailer explained this month that it had chosen Chewy (NYSE:CHWY) founder and major investor Ryan Cohen to bring its e-commerce push.

While building a strategic management and capital issuance committee, guided by Ryan Cohen, the Texas-headquartered company explains the new structure will spot actions that can convert the company into a tech-oriented business and assist build enduring value for investors and shareholders.

Extremely volatile GameStop shares are currently rising and have already boosted around 1000% this year on suggestion that the company is a strong turnaround play, mostly after the collaboration with Cohen who has a great experience of creating e-commerce businesses. By the way, the stock ended trading at $200.27 last Friday.

 

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