Is GameStop (GME) A Buy Before Q1 Earnings Release?

GameStop GME is set to report first-quarter results after the closing bell on Wednesday. The Zacks Consensus Estimate calls for a loss of -$1.37 per share, translating to a -204.44% decline relative to the first quarter in the prior year. GameStop, a Zacks Rank #3 (Hold), has missed the mark on three of its last four earnings announcements.

GME has witnessed a nearly -16% decline since the beginning of the year and has been quite choppy, in line with the volatile start for stocks in 2022.

Retail results from the first quarter have been mixed, with some retailers getting hit hard while others have flourished. With GameStop on deck, is now the time to buy?

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