Skip to main content

Market Overview

Why GameStop Is Trading Lower Today

Why GameStop Is Trading Lower Today

GameStop Corp (NYSE: GME) is trading lower Thursday morning after the company announced its first-quarter financial results, a share offering — and SEC probe. 

What Happened: GameStop reported an earnings loss of 45 cents per share, which beat the estimate for a loss of 83 cents per share. The company reported quarterly revenue of $1.28 billion, which beat the estimate of $1.16 billion.

GameStop announced that it may sell up to 5 million shares from time to time in at-the-market offerings. It intends to use the proceeds for general corporate purposes, investing in growth initiatives and maintaining its balance sheet.

GameStop appointed former Inc (NASDAQ: AMZN) executives Matt Furlong and Mike Recupero as CEO and CFO, respectively. 

The company said it is fully cooperating with the SEC after the commission contacted GameStop in May for documents and other information related to its stock.

Related Link: GameStop Discloses SEC Probe Into Trading of Its And Stocks Of 'Other Companies;' AMC, Koss, BlackBerry Dip

GME Price Action: GameStop has traded as high as $483 and as low as $3.77 over a 52-week period. 

At last check Thursday, the stock was down 8.45% in premarket trading at $277.

Photo by Mike Mozart from Flickr.


Related Articles (GME)

View Comments and Join the Discussion!

Posted-In: Matt Furlong Mike Recupero why it's movingEarnings News Movers Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at