GameStop shares sink after company update on business, plans stock sale

📆 5/17/2024 10:30 AM
📰 FoxBusiness

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

After a wild week of trading, GameStop announced a sale plan for up to tens of millions of its shares and also gave a lukewarm business update disappointing investors.

GameStop shares tumbled on Friday after the video game retailer released preliminary financial results and announced a plan to sell millions of shares of common stock. Under the sale agreement, the company said it may sell as many as 45 million shares of its common stock using Jefferies as its sales agent, according to a filing with the Securities and Exchange Commission .

The video game retailer disclosed the stock sale plan on the same day that it released preliminary quarterly results that showed its net sales for the first quarter will be in a range of $872 million to $892 million, and its net loss would be in a range of $27 million to $37 million. GET FOX BUSINESS ON THE GO BY CLICKING HERE

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Write Comment

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making biggest moves premarket: Under Armour, Walmart, AMC, GameStop, Canada Goose and moreThese are some of the stocks posting the largest moves in premarket trading.
Source: NBCLA - 🏆 319. / 59 Read more »

Meme stocks slide as GameStop’s preliminary Q1 results spark another sell-offMeme stocks slide as GameStop’s preliminary Q1 results spark another sell-off
Source: Investingcom - 🏆 450. / 53 Read more »