GameStop released its earnings report days ahead of schedule, reporting that sales dropped 29% in the first quarter.shares fell more than 14% on Monday as the meme stock extended Friday's sell-off sparked by a dismal earnings report and an uninspiring livestream from Roaring Kitty.GameStop released its earnings report days ahead of schedule
, reporting that sales dropped 29% in the first quarter. GameStop also announced it was selling an additional 75 million shares.in a few years Friday. He revealed that he did not have any institutional backers and the GameStop positions he had shared in screenshots were his only bets. Gill also reiterated his previous investing thesis and offered little new reasoning behind his large stake.
Michael Pachter, GameStop analyst at Wedbush, said he remains skeptical that the company could result in any meaningful turnaround after multiple failed strategies recently. "We cannot see how GameStop adds any value by operating any new businesses, particularly not now after its entire C-suite was either terminated or chose to depart," he said in a note.was"an abject failure" as three former Amazon executives it hired to pursue the strategy left the company.
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