IRBT and EFOI among Consumer Discretionary movers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
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Gainers:
- Faraday Future Intelligent Electric (FFIE) up by 71%.
- Selina Hospitality (SLNA) up by 44%.
- Reborn Coffee (REBN) up by 26%.
- Petco Health and Wellness Co (WOOF) up by 19%.
- Energy Focus (EFOI) up by 12%.
Losers:
- GameStop Corporation (GME) down by 33%.
- Tupperware Brands Corporation (TUP) down by 17%.
- JX Luxventure Limited (JXJT) down by 16%.
- iRobot Corp (IRBT) down by 12%.
- NIO (NIO) down by 9%.
S&P 500 Consumer Discretionary Sector:
- Overall, the sector increased by 0.02% to 1459.26.
- Automobiles & Components decreased by 1.09% to 104.56.
- Consumer Durables & Apparel increased by 1.37% to 412.45.
- Consumer Services increased by 0.33% to 1628.88.
- Retailing, which contributes 52% to the index, decreased by 0.04% to 4464.72.
Consumer Discretionary Select Sector SPDR ETF:
- XLY is expected to be fueled by resilient consumer spending in 2024.
- There may be a reversal in the consumer discretionary rebound due to a crash in retail sales.
- The article discusses the most shorted S&P 500 consumer discretionary stocks in April.
- Oppenheimer remains positive on equities, particularly energy and consumer discretionary stocks.
- Seeking Alpha's Quant Rating on Consumer Discretionary Select Sector SPDR ETF is highlighted.
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Analyst Views on GME
About GME
GameStop Corp. offers games and entertainment products through its stores and ecommerce platforms. The Company operates in four geographic segments: United States, Canada, Australia and Europe. Each segment consists primarily of retail operations, with the significant majority focused on games, entertainment products and technology. The Company has a total of approximately 3,203 stores across all of its segments: 2,325 in the United States, 193 in Canada, 374 in Australia, and 311 in Europe. Its stores and ecommerce sites operate primarily under the names GameStop, EB Games and Micromania. Its Australia and Europe segments also include 38 pop culture-themed stores selling collectibles, apparel, gadgets, electronics, toys and other retail products for technology enthusiasts and general consumers in international markets operating under the Zing Pop Culture brand. Its retail stores are generally located in strip centers, shopping malls and pedestrian areas.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
GameStop Shares Dip as Investors Reassess Bullish Sentiment
- Price Decline Reason: GameStop shares fell 2.24% to $23.11 on Thursday, primarily due to profit-taking by investors after a week of volatility, indicating a rapid shift in market sentiment.
- Investor Sentiment Shift: The bullish commentary from famed investor Michael Burry and insider buying by CEO Ryan Cohen had previously driven the stock higher, but as short-term optimism fades, investors are reassessing whether these factors can translate into tangible business catalysts.
- Technical Indicator Analysis: While GameStop is currently trading 6.3% above its 20-day and 0.5% above its 100-day simple moving averages, the stock has decreased approximately 16.40% over the past 12 months, suggesting potential volatility risks in the short term.
- Benzinga Edge Score: GameStop's Benzinga Edge score reveals a mixed outlook, with a growth rank of 96.18 indicating strong growth potential, yet a momentum rank of only 21.53 suggests the stock may struggle to maintain its upward trajectory.
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GameStop Frenzy's Long-Term Impact on Young Investors
- Rise of Young Investors: GameStop's stock surged over 1,600% in January 2021, drawing a significant number of young investors into the market for the first time, highlighting the profound impact of zero-commission trading and social media on investment behavior.
- Increased Market Participation: Research indicates that approximately 4.5% of GameStop traders opened brokerage accounts after January 13, 2021, demonstrating that this phenomenon attracted a considerable number of new investors, particularly those under 30.
- Changing Investment Psychology: Young investors now expect an average return of 36%, significantly higher than the historical 10% for stocks, reflecting their response to economic pressures and a desire for substantial gains.
- Risk and Reward Dynamics: While GameStop generated significant investment interest, many latecomers faced losses averaging around 13%, illustrating the potential risks young investors encounter when pursuing high-risk investments.
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