GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped
Publishing timestamp: 2024-05-17 13:20:10
Summary
GameStop plans to sell up to 45 million common shares after reporting a drop in first-quarter sales. The stock surged earlier in the week but tumbled 25% after the announcement. Analysts expect a net loss for the first quarter and believe the company is not in a position to be profitable in the future.
Sentiment: NEGATIVE
Tickers: GME,
Keywords: gamestop corp, business news, breaking news: markets, breaking news: technology,