GameStop stock erases all premarket gains after a big Q1 sales miss, share sale
Moreover, the company filed to sell up to 75 million shares, causing its stock to drop 10% in premarket Friday trading.
GameStop posted a net loss of $32.3 million for Q1, compared to a net loss of $50.5 million in the same period last year. The company said it intends to use proceeds from the planned share sale for general corporate purposes.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
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