GME after the print: raised Adj EBITDA guide, collectibles now ~45% of sales
Posted: Wed Sep 09, 2026 6:51 am
Full Q2 is out (vs the prelim / AMC preview thread): GameStop posted record Q2 operating income (~$160m), collectibles sales up ~57% YoY and now ~45% of the mix, while total net sales were lower YoY (Switch 2 anniversary + store closures + France exit). They raised FY Adj EBITDA outlook to >$650m (from >$600m). Cash/securities/digital stack still large; eBay stake marked ~$4.9bn.
Scalper framing into Wed:
- Separate the operating mix story from the meme/volatility sleeve — RVOL and spreads decide size, not the press-release tone
- Sales down / profit up is a classic “beat vs narrative” tape — don’t invent direction from one overnight print
- Prefer confirmation after the first post-print range rather than chasing the open auction
Source: company release / Business Wire (8 Sep 2026) — fair paraphrase.
Are you treating GME as a one-session reaction or a multi-day RVOL name?
What invalidates a long scalp for you after an earnings gap — first red 5m or a VWAP fail?
Scalper framing into Wed:
- Separate the operating mix story from the meme/volatility sleeve — RVOL and spreads decide size, not the press-release tone
- Sales down / profit up is a classic “beat vs narrative” tape — don’t invent direction from one overnight print
- Prefer confirmation after the first post-print range rather than chasing the open auction
Source: company release / Business Wire (8 Sep 2026) — fair paraphrase.
Are you treating GME as a one-session reaction or a multi-day RVOL name?
What invalidates a long scalp for you after an earnings gap — first red 5m or a VWAP fail?