GameStop Quarter 2 Earnings 2024

good evening everyone it is danite 41 reing GameStop as usual not a financial advisor not a finance guy I just like to talk about my favorite stock this is a diary nothing I say should be taken as Financial advice let's begin and talk about quarter two earnings in case if you hear that sound in the background that is the cat toys and the cats are going a little crazy just like me so let's talk about it Quarter Two earnings so um oh lovely I closed a have what a good way to start this video is this it is this it for this year yes this is it right here let me go ahead and take a zoom in so as you can tell um current assets for GameStop compared to last year's assets is um you know $2 billion which is pretty nice but now we have $4.8 billion in total assets so already happy about that um 4.1 billion in cash and cash equivalent for versus 8947 billion in cashing cash equivalents that's nearly a 4X 5x um can't do math but around that range super fantastic just overall this is 20203 this was a year ago and the fact that we've increased that much money over time in a year span during this economic downturn is something to really think about and consider in mind uh I wouldn't ever doubt Ryan Cohen this is great we're going to win in the Long Haul in my opinion but not only that but let's talk about the liabilities so as you can see uh the total total liabilities from uh July 29th of 2023 was 1.5 billion so um yeah good amount but now here we are with the total liabilities for now 1.52 1.1 billion when it comes to liabilities super duper freaking excited just I mean you know we what can you say we've been increasing our cash on hand and we've been decreasing the cost of liabilities so all I know is that the Improvement is there and let's talk about the net sales of course uh last year's net sales on the quarter 2 earnings was 1.1 billion which is you know definitely much better than the 798 million of course totally understand that but the fact that our um where are we at the sgna first off has been going down every single quarter every single year but also the operating loss is less as well and turns out whenever you're trimming out the fat and getting out the cost set are unnecessary to the business you actually increase your profit margins or at least improve them over over time at least from what I've seen because in the end of it all for last year's quarter 2 um they lost $2.8 million and GameStop gained $14.8 million in profit and you know we made less when it came to net sales overall and we still freaking killed it so we beat earnings and that's just that and you know even if we got diluted 20 million shares to be exact I'm still here for it because we're going to keep on raising money over time and that's just how it's going to happen at least in my eyes so I think quarter 2 earnings was great you know of course we didn't really go crazy on the net sales for Quarter Two that's all right because we still have quarter three and quarter 4 and quarter four is the busiest time of the year the busiest money-making time of the year for any retail stores and I'm here for it and Black Friday is going to be amazing this year same for just the winter and the cold weather overall um it's getting cold for the short sellers that is for sure and for sure let us let's check out the charts before we head out of here for the evening so of course we uh broke out of my wedge you know on the 6th of September which was 4 days ago and you know I think we're still out of it I think we're going to test this bottom over here at um oh wait we're already below it oops so we're actually down here um so we broke below the trend line but that does not mean anything we're testing that as a bottom to see if it goes up because let me go ahead and get the um little arrow out so at the moment we're technically right here let's see let me go ahead and switch this thing up really quick what are we at $21 so I'm a little slow with this y'all so be patient with me that's where we're at right now this is where we're at and I'm totally okay with it let me actually that's more like it that's exactly where we're at this guy right here that's where we're at but that's all right though you know I'm here for it this is a buying opportunity if anything we're still on the trend line maybe we'll just bounce off of it and rock it to the sky because the fundamentals are there and we're still improving no matter how much Wall Street or the naysayers try to say that this company is failing we're still making money making profit profit margin say otherwise and you know as far as I know I'm just looking at the 10 Q I'm just looking at the actual um statements you know and fundamentals and technicals look good for me uh let me go ahead and zoom out really quick on the 4our chart um oh I zoomed out too much well let's look at it on the weekly really quick the weekly looks crazy um I don't look at the weekly too much I'll look at the daily mainly but here we are and oh also when it came to the um other at the market um whenever it came to that basically for the one in May 17th and the one on June 7th uh let me go ahead and zoom in really quick May 17th where you at boom there we are once we diluted over here we went up at the end of the month and then diluted again at June 7th and then we stayed flat and then we had a little run up but that's about it so now that the same thing is happening over here who knows what will happen I'm not too sure all I know is I'm going to continue continue buying GameStop shares because it's the only stock I invest in and that's the only thing I'm really going to do with the rest of my life or until I see phone numbers as the stock price now of course I'm very risk tolerant so don't do anything that I do I just love to buy the stock a lot and that's just how I do it anyways y'all hope youall have a fantastic Tuesday evening Quarter Two earnings was great keep your head up this dip dip is not going to do anything to sway me away from the price action if you are heavily invested into GameStop and you feel very confident in it you should not let it bring you down you should not let it bring your mood down you should not let it bring your day down because at the end of the day whenever you get that dry powder whenever you get that next check you're going to be like oh man I'm going to buy me some more GameStop because that's how I look at it I look at things positively make sure you pay your bills make sure you take care of your children your pets your friends family and then once you do all that buy you some GameStop I'm just telling y'all what I'm doing peace out everyone love the stock I'll see y'all tomorrow oh