Why Is GameStop Stock Rising Monday?

GameStop Corp (NYSE: GME) shares rose 1.71% to $22.96 on Monday, coinciding with broader market gains, as the Nasdaq and S&P 500 increased by 1.10% and 1.16%, respectively. The company is set to report its fourth-quarter earnings on Tuesday, with analysts estimating earnings per share (EPS) of 31 cents and revenue of $1.47 billion. GameStop has a history of exceeding EPS estimates, having done so for six consecutive quarters. Additionally, short interest in the stock has decreased from 66.88 million to 65.62 million shares, representing 16.04% of the company's float.