Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

KOSS CORPORATION

(KOSS)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Koss : GameStop leads 'meme stocks' higher, snaps seven-day losing streak

04/14/2021 | 07:11pm EDT
FILE PHOTO: FILE PHOTO: GameStop logo is seen near displayed stock graph in this illustration

(Reuters) - Shares of GameStop Corp rose 18% on Wednesday, snapping a seven-day losing streak to post their biggest one-day increase since March 25.

The video game retailer's shares closed at $166.53 with trading volume that was more than twice the stock's 10-day moving average. Other so-called meme stocks - shares favored by the denizens of online communities such as Reddit's WallStreetBets - were also volatile on Wednesday.

Some supporters of the stock pointed to a late-Tuesday announcement that the company was voluntarily paying back $216 million in debt early as a catalyst for the gains.

The company's shares rose in aftermarket trade on Tuesday following the announcement. Price gains and trading volume accelerated late Wednesday morning.

Reddit users "are rightfully optimistic about the debt repayment," said Wedbush Securities analyst Michael Pachter. "Without debt and with the likelihood of profitability this year, bankruptcy risk is all but eliminated."

"That said, the stock is still trading well above what I think it's worth," said Pachter.

Wedbush has a "Sell" rating on the stock and a price target of $29, compared to a median Wall Street price target of $25 for GameStop, according to the latest data from Refinitiv.

A regulatory filing on Wednesday showed that GameStop Chief Executive Officer George Sherman has forfeited more than 587,000 shares as he failed to meet a performance target.

Reuters reported late on Monday that GameStop is looking for a new chief executive to replace Sherman as it pivots from being a brick-and-mortar video game retailer to e-commerce. GameStop shares lost nearly 11% of their value that day.

GameStop's shares soared more than 1600% in January as a flurry of buying forced bearish investors to unwind their bets against the stock, an event known as a short squeeze. The stock has pared those gains but is still up more than 780% this year.

Some WallStreetBets users cheered Wednesday's rally.

"GME paying off the debt eliminates the bear thesis. Such a nice play," wrote Reddit-user FelixSV.

Other stocks popular on Reddit were also volatile on Wednesday, with shares in headphone-maker Koss Corp closing up a penny at $19.41 after rising as high as $21.90 during the session.

Shares in cinema operator AMC Entertainment closed up 5.8% at $9.35 after rising as high as $9.81 during the session.

(Reporting By Sinéad Carew; editing by Barbara Lewis, Ira Iosebashvili and Diane Craft)


© Reuters 2021
All news about KOSS CORPORATION
04/30ANALYSIS : New meme stocks swing as shorts and retail investors face off again
RE
04/26MICROVISION  : soars 47%, leading 'meme stocks' higher
RE
04/14KOSS  : GameStop leads 'meme stocks' higher, snaps seven-day losing streak
RE
04/13DESIGN STORIES : Koss x Retrospekt P/21 Retro On-Ear Headphone
PU
04/13FIRST LOOK : Koss x Retrospekt P/21 Retro On-Ear Headphones
PU
04/13INTRODUCING : Koss + Retrospekt P/21 Retro On-Ear Headphone
PU
04/13AKOUOS  : Receives FDA Orphan Drug, Rare Pediatric Disease Designations for Hear..
MT
03/29HEADPHONE SCHOOL : The World's First Koss SP/3 Stereophone That Started It All
PU
03/29WALL STREET STOCK EXCHANGE : Archegos case causes bank shares to tumble
03/29DESIGN STORIES : Koss Wireless FitClips
PU
More news
Financials (USD)
Sales 2020 18,3 M - -
Net income 2020 -0,47 M - -
Net cash 2020 0,91 M - -
P/E ratio 2020 -21,6x
Yield 2020 -
Capitalization 147 M 147 M -
EV / Sales 2019 0,71x
EV / Sales 2020 0,50x
Nbr of Employees 33
Free-Float 20,5%
Chart KOSS CORPORATION
Duration : Period :
Koss Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends KOSS CORPORATION
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Managers and Directors
NameTitle
Michael J. Koss Chairman, President & Chief Executive Officer
David D. Smith Chief Financial & Accounting Officer
Lenore E. Lillie Vice President-Operations
Thomas L. Doerr Lead Independent Director
Theodore Halstead Nixon Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
KOSS CORPORATION400.58%147
SONY GROUP CORPORATION1.80%119 532
PANASONIC CORPORATION6.59%27 278
LG ELECTRONICS INC.13.33%23 526
TCL TECHNOLOGY GROUP CORPORATION20.06%17 899
LARGAN PRECISION CO.,LTD-5.95%14 497