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What Cramer is watching Thursday — Chewy soars, Sandberg exits, Solana tumbles

Published Thu, Jun 2 20229:28 AM EDT

Jim Cramer @jimcramer

What I am looking at June 2, 2022 GameStop (GME) is all about crypto wallet, non-fungible tokens (NFTs), Web 3 gaming verticals and the like. The company reported quarterly sales of $1.3 billion, up 8% from a year ago, and a loss of $2.08. Software sales of $483.7 million (up 22%), collectibles $220.9 million (plus 26%). Plenty of cash. CEO Matt Furlong led the call with investors. Cash balance was $340 million higher vs. end of first quarter last year. GME shares rose 1% in premarket trading. Sheryl Sandberg leaving Meta (FB): let's not overdo this . The ad model, the small business model, the public model, all still good ... Chewy (CHWY) reported $2.4 billion in sales (up 13.7% year over year), 20.6 million members (up from 19.7 million) gross margin was 27.5% (down 10 basis points), $60.5 million adjusted EBITDA (decrease of 21.8%). Strong consumer, difficult operating environment. Wellness and insurance coming ... CarePlus should bring more brand loyalty (not just a food shipper).