Tag: $Gamestop

Videogame retailer GameStop (GME.N), reported a decline in first-quarter revenue on Tuesday as customers increasingly opted for digital downloads over purchases at its brick-and-mortar stores, sending its shares down 4.6% in after-hours trading.

After GameStop closed about a quarter of its locations within the past year, shuttering 1,000 stores across the world, the company said it’s not close to done. And as the struggling company closes stores, it will invest cash in cryptocurrencies.

Video game retailer turned meme stock GameStop is considering investing in bitcoin and other cryptocurrencies, according to sources familiar with the matter.

GameStop, the video game retailer currently riding another wave of trading enthusiasm spurred on by the meme trader “Roaring Kitty,” showed no signs of an operational turnaround in its dismal fiscal first-quarter results.

Meme stock GameStop rallied again Monday on speculation Keith Gill, the man who inspired 2021′s epic short squeeze, could have a huge position in the video game retailer.

GameStop shares rose 26% in premarket trading Tuesday after the company announced Friday that it had made around $933 million from a stock sale.

GameStop  is selling up to 45 million of common shares in an at-the-market offering, according to a securities filing Friday.

Shares of GameStop jumped in premarket on Tuesday, on track to extend the meme stock rally started by Roaring Kitty’s first online post in three years.

GameStop shares rallied more than 37% in the premarket Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years.

GameStop shares were trading sharply lower late Tuesday after the videogame retailer reported weaker-than-expected revenue for its latest quarter.

GameStop fired its CEO Matthew Furlong and appointed its board chairman Ryan Cohen as executive chairman effective immediately, the company said Wednesday. Shares of GameStop dropped more than 20% in premarket trading Thursday.