GameStop sinks 17% on profit disappointment, possible share sale
Tiger Newspress2021-03-24
GameStop Stock falls as much as 17% to lowest intraday since March 8 in Wednesday morning trading.
GameStop reported quarterly earnings of $1.34 per share, missing forecasts by a penny a share. Revenue also came in below consensus. The videogame retailer did not address the Reddit-fueled trading frenzy in its stock during its earnings conference call, but in a Securities and Exchange Commission filing said it was considering the idea of raising money by selling shares to fund its ongoing transformation. The stock tumbled 14% in premarket trading.
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