GameStop CEO Ryan Cohen to pay $1M fine over Wells Fargo stock purchases
GameStop Corp (NYSE:GME) CEO Ryan Cohen has agreed to pay a nearly $1 million civil penalty to settle the US Federal Trade Commission's claim he failed to report the acquisition of more than $100 million worth of Wells Fargo shares. The Hart-Scott-Rodino Antitrust Act (HSR) requires companies and individuals to report large transactions including securities acquisitions over a certain threshold to the FTC and Department of Justice, allowing federal agencies to investigate these deals before closing.
GameStop prepares to shutter even more stores after disappointing second quarter
GameStop has announced that it will be closing even more brick-and-mortar locations in the coming year, after a disappointing earnings report.
This tactic could improve GameStop's performance, analyst says
GameStop Corp.'s long-term strategy is in the spotlight after the videogame retailer reported second-quarter results this week that saw sales fall more than 30% year over year.
GameStop's lack of strategy amid store closures signals it is no longer prioritizing shareholders: analysts
Analysts at Wedbush have repeated their ‘Underperform' rating on GameStop Corp (NYSE:GME) after the video game retailer's quarterly sales disappointed and it unveiled plans to fast-track store closures. “GameStop announced accelerated store closures with its earnings, but with no replacement strategy in sight, management indirectly indicates that it is no longer beholden to shareholder interests,” analysts wrote in a note to clients.
GameStop Shares Plunge Over 14% After Revenue Decline
The value of GameStop's stock continued to decline on Wednesday after the video game retailer—often the focus of meme stock trading since a viral 2021 rally—reported a decline in sales, dropping the company's market capitalization by $2 billion.
GameStop Q2 Earnings Beat Amid Y/Y Sales Dips Across All Categories
GME's Q2 net sales fall y/y, with declines across all major categories, including hardware, software and collectibles.
GameStop Stock Breaches $20 After Revenue Whiff
GameStop Corp (NYSE:GME) stock is near the bottom of the New York Stock Exchange (NYSE) today, last seen down 17.7% to trade at $19.36.
GameStop Analyst Says Retailer Could Close All Stores, Operate As Bank To Manage Losses
A GameStop Corporation GME analyst is questioning why the video game retailer is trading at a premium to its cash as it works through managing operating losses, but provided no strategy in its second-quarter earnings report.
GameStop price target cut as analyst cites retailer's lack of strategy
GameStop Corp. surprised investors with a quarterly profit in its second-quarter results Tuesday, but the videogame retailer still has many challenges ahead, according to analyst firm Wedbush.
GameStop: Earnings Won't Save It, Dilution Points to Trouble
GameStop NYSE: GME posted another smoke-and-mirrors quarter, resulting in a normal market response: a fall. The results reveal a company trying hard to turn itself around but failing miserably and eating itself to death at shareholder expense—insufficient news to spark another meme-quality rally.
GameStop in danger: Can GME stock hold the $20 mark?
GameStop (NYSE: GME) found itself in hot water on September 11, with shares plummeting 15.09% to $19.95 at market open following a shaky Q2 earnings report. While the company managed to beat EPS expectations with a slim $0.01 per share (compared to estimates of a -$0.09 loss), it wasn't enough to offset other troubling figures.
Watch These GameStop Price Levels as Stock Plummets
GameStop (GME) shares plunged in premarket trading on Wednesday after the brick-and-mortar video gamer retailer announced a 20 million share offering and reported a 31% drop in quarterly sales, as consumers continue to pivot from physical discs to digital downloads and game streaming.
