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GameStop tumbles 22% as company says it plans to sell up to 5 million shares and discloses SEC request for information on trading activity

14 days ago   |   By Business Insider

Summary List Placement GameStop slumped more than 20% Thursday after the video game retailer said it plans to potentially sell millions of shares and said the Securities and Exchange Commission has requested information as part of its investigation into the trading of its shares.
The company issued the updates late Wednesday alongside first-quarter financial results that beat Wall Street's expectations.
Shares of GameStop on Thursday sank 22% to $237.17. The stock started falling in after-hours trade Wednesday as GameStop said it may sell up to an additional 5 million shares as part of a...
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Despite a soaring stock price, GameStop is still facing major issues - and the company's new leadership won't say how it plans to fix the ailing video game retailer

Despite a soaring stock price, GameStop is still facing major issues - and the company's new leadership won't say how it plans to fix the ailing video game retailer

14 days ago   |   By Business Insider

Summary List Placement Forget about the absurdly high value of GameStop stock - it has nothing to do with the company, and GameStop leadership has acknowledged as much.
"The market price of our Class A Common Stock has been extremely volatile and may continue to be volatile due to numerous circumstances beyond our control," GameStop leaders admitted in an SEC filing earlier this year.
Before the company's stock price exploded as a so-called "meme stock," GameStop was in a years-long death spiral .
That's because GameStop, like Sam Goody and Tower Records before it, is in the business of...
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