FOX Business’ Charlie Gasparino said GameStop’s recent “Craman Countdown” earnings weren’t that great.
GameStop shares plunged Friday after the video game retailer reported preliminary financial results and announced plans to sell millions of shares of its common stock.
Under the sale agreement, the company said it may sell up to 45 million shares of its common stock, with Jefferies acting as the sales agent, according to a filing with the Securities and Exchange Commission.
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| GME | GameStop Co., Ltd. | December 20th | -7.53 | -27.25% |
“The Company intends to use the net proceeds, if any, of the initial public offering for general corporate purposes, which may include acquisitions and investments consistent with the Company’s investment policy.” said GameStop.
‘Roaring Kitty’ social media comeback: What you need to know about meme stock traders
GameStop shares soared more than 100% earlier this week after the meme stock trader “Roaring Kitty,” which started with a cartoon post of two gamers, suddenly became active again on social media. Since then, he has posted numerous posts and videos.
The stock price has since given back a significant portion of those gains.
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GameStop, AMC short sellers stand their ground
The video game retailer disclosed its stock sale plans on the same day it released preliminary quarterly results, with first-quarter net sales in the range of $872 million to $892 million and net Losses were shown to be in the $10 million range. $27 million to $37 million.
Monday, March 4, 2024, GameStop store in New York, USA. (Shelby Knowles/Bloomberg via Getty Images/Getty Images)
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