GameStop Reports Weak Sales, Joins Petco, Relay Therapeutics And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session
Portfolio Pulse from Avi Kapoor
GameStop reported weak second-quarter sales, missing estimates, causing its shares to drop 10.5% in pre-market trading. Other stocks like Petco and Relay Therapeutics also saw declines in pre-market trading.
September 11, 2024 | 12:06 pm
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NEGATIVE IMPACT
GameStop's Q2 net sales missed estimates, leading to a 10.5% drop in pre-market trading, despite reporting a profit per share.
GameStop's significant miss on sales estimates overshadowed its profit per share, leading to a sharp decline in its stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Relay Therapeutics shares dropped 11.9% in pre-market trading after pricing a $200 million public offering.
The decline in Relay Therapeutics' stock is due to the dilution effect from its large public offering.
CONFIDENCE 95
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Petco shares fell 5.5% in pre-market trading after reporting second-quarter results.
Petco's stock decline is linked to its Q2 results, indicating investor disappointment or concerns.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50