GameStop shares were volatile on Friday morning after the company reported results and ahead of a YouTube livestream planned by meme stock influencer Keith Gill, also known as "Roaring Kitty." The video retailer reported a net loss of $32.2 million compared to a loss of $50.5 million in the year-ago period. Sales fell 28% to $881 million, down from $1.2 billion. The company also plans to sell up to another 75,000,000 shares on top of the 45,000,000 already sold.
GameStop's mid-May rally was curbed after the video game retailer offered an update on its business and announced plans to sell as many as 45 million shares of common stock. The company said that its first quarter net sales will be in a range of $872 million to $892 million, with a net loss in a range of $27 million to $37 million.
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