Big Lots, GameStop, Trump Media: Stocks In Focus

Morning Brief co-hosts Seana Smith and Brad Smith break down the top trending tickers on Yahoo Finance on Monday morning.

Big Lots (BIG) has officially filed for Chapter 11 bankruptcy, citing high inflation and interest rates as factors that have had a negative impact on the business. Alongside the bankruptcy filing, the company has entered into a sale agreement with investor Nexus Capital Management.

Meanwhile, GameStop (GME) is set to release its second-quarter results on Tuesday after the market close. This comes on the heels of a recent social media post from Keith Gill, which sent meme stocks, including GameStop (GME), AMC (AMC), and Chewy (CHWY), on the move last week. However, Wedbush analysts are bearish on the video game retailer, noting the stock is trading at levels that "ignore the company's many challenges ahead."

Finally, shares of Trump Media (DJT) are trading higher ahead of the presidential debate between from President Donald Trump and Vice President Kamala Harris on Tuesday.

At the time of this video's posting, GameStop and AMC shares have since moved into positive territory in Monday's trading session.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Angel Smith

Video transcript

We're taking a closer look at some big moves in Yahoo.

Finance is trending tickers and we're doing it in 30 seconds each.

Let's go first up big lots.

Those shares are up right now by about 9% after the company announced it is officially filed for Chapter 11 bankruptcy.

In the announcement, big lots called out macro headwinds like high inflation and interest rates that took a toll on its business in recent quarters.

The discount retailer also announced that it is entered into a sale agreement with investor Nexus Capital Management Big Lot, saying its second quarter results, which are scheduled for September 12, will be in line with the previous guidance here.

They're also trying to optimise their go forward store footprint as part of the court supervised sale process, continuing to assess that operational footprint.

All right, let's take a look at games of the next thought that we are watching here today.

The stock favourite releasing its second quarter results after the bell tomorrow, analysts at we Bush well, they're a bit sceptical about the company's path forward to no surprise, and they know the chairs of the video game retailer Well, they're trading at levels.

That quote ignored the company's many challenges ahead.

I think a lot of people would agree with that sentiment.

Their price target of 11 bucks a share is less than half of Gamestop's current trading price.

You're looking at the current trading price of just about 23 bucks a shareable trader.

Keep G. Who's roaring K?

The social media posts are reading made to the in the stock back in May.

He posted to X again on Friday.

Well, that added some volatility to some of these names the me names like two and a MC, also moving alongside a game stop on that post.

So again, when you take into account that this stock does not trade with fundamentals, there's many reasons to think that there are some weakness within the within their underlying business.

You talk about the fact the shift from from physical to digital game source sales that's obviously impacting the business, just a slowdown that we are seeing on consumer spending reason to be a bit sceptical, maybe about what these results were, and we're also not going likely not going to get an earnings call after this report that there's been no mention, and there hasn't been an earnings call following these reports that going back to 2023 so likely no change there.

All right, and lastly here.

Lastly, let's take a look at shares of Trump Me.

The ticker symbol there is DJ T that is higher right now by about 11% likely ahead of tomorrow night's debate between the former president and vice president, Kamala Harris.

Since the company first went public via merger back in March, Trump had been unable to sell any of his shares as part of a standard lock up agreement and its cost big time.

Over the past six months, shares of Trump Media have declined nearly 60% here, well more than 50% at this juncture, with today's move factored in but doesn't negate the fact that it's erased billions of dollars from Trump's stake here and a reminder that you can track the best and worst performing stocks of the session with Yahoo Finance's trending tickers page here.

So we'll continue to keep an eye on all of those And of course, we've got that QR code for you in the corner