GameStop drops more than 12%, hits session lows after annual meeting fails to offer details on firm's strategy
Publishing timestamp: 2024-06-17 13:49:16
Summary
GameStop's meme stock dropped more than 14% after a shareholder event with no detailed remarks on the company's future plans. CEO Ryan Cohen focused on cutting costs and boosting profits, hinting at more store closures. The event was disrupted by computer problems and postponed. Reddit ringleader Roaring Kitty stirred up another trading frenzy. GameStop is still struggling with the transition to online gaming.
Sentiment: MIXED
Tickers: GME,
Keywords: breaking news: markets, wall street, markets, investment strategy, breaking news: investing, stock markets, breaking news: business, gamestop corp, business news,