GameStop Powers Down After Mixed Q2 Report

GameStop Corp. GME shares are trading lower by $2.78, or 13 percent, at $19.00 in Friday's session.

After Thursday's close, the company reported a mixed Q2 report that revealed an EPS miss of a penny on slightly better than expected sales. The Street doesn't seem to care that the company reaffirmed 2017 guidance and forecast comps to be at the higher-end of their projected range.

After a much lower open, GameStop had only a 4-cent bump to $19.94 before continuing its move lower. The ensuing decline has taken the stock under $20.00 for the first time since September 2012. Its current low of $18.72 comes in between its August 30 ($18.52) and August 31 lows ($18.90).