Shares of popular retail trader stocks are trading lower in sympathy with GameStop, which reported worse-than-expected Q1 earnings and filed to sell up to 75 million shares.
Portfolio Pulse from Benzinga Newsdesk
Shares of popular retail trader stocks, including GameStop, AMC, and Koss, are trading lower following GameStop's worse-than-expected Q1 earnings report and its filing to sell 75 million shares.
June 07, 2024 | 11:57 am
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NEGATIVE IMPACT
AMC's stock is trading lower in sympathy with GameStop's poor Q1 earnings and share sale filing.
AMC is often traded in tandem with GameStop by retail investors, leading to a decline in AMC's stock price following negative news for GameStop.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
GameStop reported worse-than-expected Q1 earnings and filed to sell 75 million shares, leading to a decline in its stock price.
The combination of disappointing earnings and the potential dilution from selling 75 million shares is negatively impacting GameStop's stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Koss shares are trading lower in response to GameStop's disappointing Q1 earnings and share sale filing.
Koss, like AMC, is often influenced by GameStop's performance due to retail trading patterns, resulting in a decline in its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 60