AMC Entertainment Holdings Inc. shares and Bed Bath & Beyond Inc. shares surged Wednesday in premarket trading, while GameStop Corp.’s “meme stock”, GameStop Corp. saw its share price soar after the video game and consumer electronics seller reported a surprising fiscal fourth-quarter profit.

GameStop’s GME, +45.78% stock continued its sharp bounce Tuesday after bouncing 1.0% Tuesday off a two year low, according to FactSet data. The shares of the video retailer surged 56% premarket while Bed Bath’s stock rose 7.1% after jumping 1.0% Tuesday from Monday‚Äôs record-low close at 81 cents. However, it was still heading for a sub$1 open. After falling 38.2% over the past month, AMC’s stock rose 9.3%. AMC’s AMC was up 9.3% after a rally of 13.8% in the past two sessions. However, they were still down 28.5% month-to-date.

Wedbush raised its price target for GameStop to $6.50, from $5.30 Wednesday. In a Wednesday note, Michael Pachter, Wedbush analyst, wrote that GameStop had a profitable holiday quarter as it has done every year except 2021. “GameStop’s lack of profitability in the last year led us to assume that it couldn’t manage its expenses. But we were surprised by how well they did so.

Related: GameStop stock soars almost 50% on surprise quarterly profits, higher sales

The video game retailer announced Wednesday that it had completed the majority of its infrastructure, systems and shipping capabilities upgrades. It also stated that they have made significant progress on mobile and online platforms. GameStop also cited cost-cutting initiatives and headcount reductions that it implemented during the fiscal year in order to improve operational efficiency.

The company closed the quarter with $1.4 billion in cash, cash equivalents, and marketable securities.

Webush doesn’t believe GameStop will be able to sustain its one-time capital changes. Webush wrote that GameStop’s lower cost structure reduces the risk of ongoing loss and that GameStop will generate cash losses of $50m per quarter moving forward. This is an improvement on the $100 million quarterly cash burn modelled before. “GameStop’s $1.4billion of net cash should be sufficient to last the company for several years, as its management searches for new ways to revitalize a dying business.”

Related to AMC “positioned really well” for 2023, according to Wedbush

Pachter asked if GameStop’s victory is actually “fleeting”, citing obstacles in the company’s way. Pachter said that the company can’t save itself from its own demise as new-gen hardware sales invariably slow down and physical video game sales continue to decline over the long-term. This negative momentum is fueled by growing interest in mobile and subscriptions for gamers hours and dollars. Wedbush has maintained its GameStop underperform rating.

Two analysts were surveyed by FactSet. One has a Hold rating while the other has a Sell rating for GameStop.

Additional reporting by Claudia Assis.