The Latest Breaking News from GameStop

On its 9th anniversary, this action game remains the most profitable entertainment product of all time, generating billions in revenue since 2013.

With inflation hovering near a 40-year high, the specialty retail industry is crippling. Since persistent economic headwinds make the industry’s prospects bleak, we think fundamentally-weak retail stocks GameStop Corp. (GME), Five Below (FIVE), and Wayfair (W) are best avoided now. Read on….

The Innovator IBD 50 ETF outperformed the stock market with a gain of 1.6%.

Reuters

"Our path to becoming a more diversified and tech-centric business is one that obviously carries risk and will take time," said CEO Matt Furlong.

Stock futures flat, central banks in focus; Fed Chair Powell on deck as September rate bets leap; ECB set for biggest-ever hike as inflation roars, euro slumps; GameStop shares surge on FTX digital asset tie-up and California heat wave scorches, but power grid holds.

"In addition to collaborating with FTX on new ecommerce and online marketing initiatives, GameStop will begin carrying FTX gift cards in select stores," the company said.

GameStop Corporation (NYSE: GME) is set to print its second-quarter financial results after the market close Wednesday. The heavily beaten-down stock was trading almost 7% lower heading into the event and is down more than 50% off the Aug. 8 high of $47.99.

Stocks finished higher Wednesday while the dollar continued to push through multi-decade highs against its global peers.