Reported 11 months ago
GameStop experienced a decrease in net sales, reporting $881.8 million in contrast to $1.24 billion a year ago, missing market expectations. The company released its first-quarter report earlier than planned, alongside a $3 billion stock offer. Analysts remain skeptical about GameStop's ability to return to profitability due to its struggling brick-and-mortar business model. The announcement coincided with the return of meme stock influencer Keith Gill, prompting GameStop to sell 75 million shares. The company aims to capitalize on the recent spike in share price following Gill's resurgence.
Source: YAHOO