GME Stock On Track For Best Intraday Gains In 10 Weeks — Why Are Retail Traders Excited?

• The company stated in a post on X that it will offer $420.69 in cash for Xbox or PlayStation 5 gaming consoles, with the offer valid from April 20 to 22.
• “The Big Short” investor Michael Burry disclosed earlier this month that he had increased his stake in GameStop.
• GameStop CEO Ryan Cohen stated in a January interview with CNBC that the company is eyeing a “very big” deal that could make GameStop worth hundreds of billions of dollars.

Shares of GameStop Corp. (GME) rose 5% on Wednesday morning and were on track for their best intraday gains in nearly 10 weeks.

GameStop’s shares are currently trading above the stock’s 50-day and 100-day moving averages.

GameStop’s recent surge comes in the backdrop of the company launching a three-day console trade-in offer. The company stated in a post on X that it will offer $420.69 in cash for Xbox or PlayStation 5 gaming consoles, with the offer valid from April 20 to 22.

How Did Retail Traders React?

Retail sentiment on Stocktwits GameStop trended in the ‘bullish’ territory, with message volumes at ‘high’ levels. GME was among the top trending tickers on the platform at the time of writing.

One bullish user on the platform stated that they’re still waiting for news of the acquisition.

Another user wondered how long it would take for GameStop’s cash on hand to exceed its market capitalization.

GameStop reported during its fourth-quarter (Q4) results that its cash reserves and short-term investments stood at $9.01 billion at the end of January 2026

Burry Increases GameStop Stake

“The Big Short” investor Michael Burry disclosed earlier this month that he had increased his stake in GameStop.

“In a market crash, I believe Ryan could move fast to deploy cash, which would be a catalyst, and I do not see much downside from here, as described in Final Stop GameStop. Corporate governance is as good as it gets if one is ok with a benign dictator,” Burry stated in a post on Substack.

This comes after Burry announced in January that he had been buying GameStop shares as a long-term investment.

GameStop CEO Cohen Eyes A ‘Very Big’ Deal

GameStop CEO Ryan Cohen stated in a January interview with CNBC that the company is eyeing a “very big” deal that could make GameStop worth hundreds of billions of dollars. GameStop’s current market capitalization is around $11.5 billion.

“It’s transformational. Not just for GameStop, but ultimately, within the capital markets … this is something that really has never been done before within the history of the capital markets,” Cohen said.

During its fourth-quarter (Q4) earnings in March this year, GameStop did not address Cohen’s comments, nor did it state if an acquisition or a deal is currently under consideration.

GameStop’s Mixed Q4

GameStop reported earnings per share (EPS) of $0.49 on revenue of $1.1 billion. Wall Street estimated an EPS of $0.37 on revenue of $1.47 billion, according to Fiscal.ai data.

GameStop is expected to report EPS of $0.12 in the first quarter (Q1) on revenue of $700 million, according to Fiscal.ai data.

GME stock is up 27% year-to-date, but down 8% over the past 12 months. The iShares Core S&P Mid-Cap ETF (IJH) is up 32% over the past 12 months, while the Vanguard Total Stock Market Index Fund ETF (VTI) is up 35%.

The Vanguard Small-Cap Index Fund ETF (VB) is up 37% during this period, while the Vanguard Small-Cap Value Index Fund ETF (VBR) is up 33%.

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