Reddit Is Losing Its Mind Over $M's Comeback and $GME's Record Profit — And Honestly, Same
Two of Reddit's favorite punching bags just reported actual good numbers, and the upvotes are flying
Ticker Ratings
Reddit's investing communities are having an identity crisis this week — and it's a beautiful one. $M just dropped its fourth consecutive quarter of positive comp sales growth, with Q1 comps up 3% — the strongest first quarter since 2022. Bloomingdale's hit a record first-quarter sales volume at +10.2%, and Macy's raised full-year guidance. The stock popped ~3% on the news. The Saks Global bankruptcy may be quietly gifting Macy's a wave of displaced luxury shoppers, which is the kind of irony Wall Street loves and Reddit turns into memes.
Then there's $GME. The immortal meme stock reported net income of $389.6M — its highest ever — on $835.3M in sales (+14%), driven by its collectibles business. Shares jumped as much as 13% after hours. Yes, GameStop is profitable. No, we're not in a simulation. High-upvote DD threads are lighting up r/WallStreetBets trying to figure out if this is real or another trap.
Two brands that were supposed to be dead are printing money while Bitcoin bleeds to ~$60K and Broadcom misses AI chip estimates — turns out the meme stocks came to play and the tech darlings needed a nap.