GameStop's shares rose almost 40% in premarket trading after the video game retailer posted its first profitable quarter in two years, which helped encourage other stocks popular with retail traders. The company recorded an adjusted profit of 16 cents per share in Q4, compared to a 47 cent loss a year ago, thanks to cutting costs, including job reductions. Revenue declined 1.2% to $2.23bn in the quarter, and analysts said revenue headwinds persist in GameStop's core business, but added that the Q4 cost-cutting was encouraging. Meme stocks like GameStop and AMC rebounded after suffering in the high-interest rate regime of the past year.
