GameStop Stock Is Tumbling Thursday: What's Going On?
Portfolio Pulse from Adam Eckert
GameStop (GME) shares are tumbling after reporting worse-than-expected Q1 results, canceling its conference call, and firing its CEO. Q1 revenue declined 11% YoY to $1.237 billion, missing analyst expectations of $1.36 billion. The company also reported a quarterly adjusted loss of 14 cents per share, missing estimates for a loss of 12 cents per share.
June 08, 2023 | 12:46 pm
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GameStop shares are facing selling pressure after reporting worse-than-expected Q1 results, canceling its conference call, and firing its CEO. The stock is down 21.9% at $20.38.
GameStop's worse-than-expected Q1 results, canceled conference call, and CEO firing have led to heavy selling pressure on the stock. The company's revenue and EPS missed analyst expectations, causing the stock price to drop significantly.
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