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Title    GameStop Stock Falls Sharply Amid 5M-Share Sales Plan, SEC Investigation
Date    Friday June 11, @01:04AM
Author    Fnord666
Topic   
from the sharp-pointy-lines dept.
https://soylentnews.org/article.pl?sid=21/06/10/1953214

Freeman writes:

GameStop stock falls sharply amid 5M-share sales plan, SEC investigation:

GameStop's quarterly earnings report, released last night, contained relatively good news for the embattled retailer, including a smaller-than-expected operating loss and the company's first year-over-year increase in quarterly revenues in years. But GameStop's heavily inflated stock price is down significantly in morning trading on news that the company plans to sell more shares and the announcement that it is cooperating with a Securities and Exchange Commission investigation into the "meme stock" phenomenon.

In what CEO George Sherman called a "strong start to the year," GameStop's net sales were up over 25 percent to $1.3 billion in the fiscal quarter ending on April 30. That's despite "a roughly 12 percent reduction in the global store fleet due to our strategic de-densification efforts and the continued store closures in Europe during the quarter due to the COVID-19 pandemic."

Previously:
GameStop (The Stock) and GameStop (The Retailer) Continue to be Worlds Apart
GameStop Shares Rise, Fall and Rise Again in Roller-Coaster Day of Trading
The Complete Moron's Guide to GameStop's Stock Roller Coaster


Original Submission

Links

  1. "Freeman" - https://soylentnews.org/~Freeman/
  2. "GameStop stock falls sharply amid 5M-share sales plan, SEC investigation" - https://arstechnica.com/gaming/2021/06/gamestop-stock-falls-sharply-amid-5m-share-sales-plan-sec-investigation/
  3. "heavily inflated stock price" - https://arstechnica.com/gaming/2021/06/dont-look-now-but-gamestop-stock-is-approaching-record-highs-again/
  4. "GameStop (The Stock) and GameStop (The Retailer) Continue to be Worlds Apart" - https://soylentnews.org/article.pl?sid=21/03/24/2133239
  5. "GameStop Shares Rise, Fall and Rise Again in Roller-Coaster Day of Trading" - https://soylentnews.org/article.pl?sid=21/03/13/204201
  6. "The Complete Moron's Guide to GameStop's Stock Roller Coaster" - https://soylentnews.org/article.pl?sid=21/01/27/2116205
  7. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=49203

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printed from SoylentNews, GameStop Stock Falls Sharply Amid 5M-Share Sales Plan, SEC Investigation on 2021-06-23 20:23:57