Reported 29 days ago
GameStop's recent filing for a 20 million share offering has led to a more than 10% drop in its stock price after the company's second-quarter revenue fell to $798.3 million, down from $1.16 billion a year earlier, as consumers shift towards online shopping. The retailer is struggling with declining sales in its core business of selling video game discs and is planning to close more stores while stating that proceeds from the share offering will support corporate purposes, which could include acquisitions.
Source: YAHOO