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Expand chart
Data: FactSet; Chart: Axios Visuals

There's been a deafening silence from GameStop since the company's stock took Reddit boards — and the world — by storm. That will change on Tuesday.

What's happening: Executives will release quarterly earnings and speak publicly to Wall Street for the first time since a Reddit-fueled rally caused a historic surge in its stock price.

The big question: Whether the saga translates into anything that helps the company overcome the hurdles that threaten its survival.

  • So far, GameStop has sat out the hype.
  • Unlike AMC (another company in the meme stock cohort), it hasn't used the newfound market enthusiasm to raise money that could fund turnaround ambitions.
  • Of note: Since the Reddit saga, its CFO, who's been applauded by Wall Street for helping firm up the company's balance sheet, resigned.

Storm clouds: The company's main business — selling physical games in physical stores — has been decimated by digitization.

  • Thought bubble from Axios Gaming correspondent Stephen Totilo: Selling boxed games is a fading market as people switch to downloading. Selling gaming hardware has very low margins — and GameStop's big business plan last year was to turn stores into hangout spaces, which ran afoul of COVID-19.

What to watch: The company has said in recent weeks that it's moving to catch up to the times, with Chewy co-founder Ryan Cohen taking the lead. But those plans remain vague.

  • "In theory, [GameStop] could raise cash and buy an esports player, buy a steaming service, buy a company that produces games," longtime analyst Joe Feldman tells Axios — all things that could help it compete.

Go deeper

3 hours ago - Health

FDA authorizes mix-and-match for COVID booster shots

Photo: Francine Orr/Los Angeles Times via Getty Images

The Food and Drugs Administration (FDA) on Wednesday gave its approval for Americans to get booster shots that are different from the COVID vaccine they initially received.

Why it matters: The recommendation from the FDA, which also authorized booster shots for people who received Moderna and Johnson & Johnson vaccines on Wednesday, paves the way for an expansion of booster shots.

GOP congressman forfeits committee seats after indictment

Rep. Jeff Fortenberry. Photo: Al Drago/Bloomberg via Getty Images

Rep. Jeff Fortenberry (R-Neb.) on Wednesday stepped down from his committee assignments after being indicted for lying to federal investigators amid a probe into illegal campaign donations.

What they're saying: In a letter to House Speaker Nancy Pelosi, Fortenberry said he is "grateful for the outpouring of support from my friends and colleagues as we work against the injustice confronting me."

Rahm Emanuel questioned on murder of Laquan McDonald in confirmation hearing

Rahm Emanuel during a Senate Foreign Relations Committee confirmation hearing on Oct. 20. Photo: Sarah Silbiger/Bloomberg via Getty Images

Former Chicago Mayor Rahm Emanuel spoke about the murder of Laquan McDonald during his Senate confirmation hearing Wednesday to become the U.S. ambassador to Japan, saying that "there's not a day or a week that has gone by in the last seven years I haven't thought about this."

Catch up quick: McDonald was a Black teenager who was fatally shot 16 times by Chicago police during Emanuel's tenure as the city's mayor. The 2014 shooting triggered massive protests, both because of its nature and the fact that the officers' body-cam footage was concealed for years.