Source: Wall Street See
Recently, there has been a resurgence of meme stocks.$GameStop (GME.US)$Q1 performance was released in advance, while also announcing the possibility of a new stock offering.
During pre-market trading on Friday, GameStop fell by 18% after rising by nearly 36% earlier, as reports suggest that GameStop may sell up to 75 million shares of Class A stocks.
The latest SEC filings from GameStop show that it is applying to sell up to 75 million shares of Class A stock, with proceeds intended for operating funds and general company purposes. The company has previously sold 45 million shares of stock, with total proceeds of about $933.4 million.
On the same day, GameStop released its Q1 financial report, with revenue of $882 million for Q1 2024, less than the $1.237 billion for the same period last year, and less than the estimated $995.5 million; Hardware and accessories sales fell by 30.4% YoY to $505.3 million; software sales fell by 29.1% YoY to $239.7 million.
Hardware and accessories sales fell by 30.4% YoY to $505.3 million; software sales fell by 29.1% YoY to $239.7 million.
Net loss was $32.3 million, compared to a net loss of $50.5 million for the same period last year. After the performance announcement, the stock price changed from a rise to a fall before the market opened.
During this round of meme stock craze, GameStop's stock price has been soaring, and Keith Gill, the "big brother" leading the way, revealed a large investment in the company. Gill also plans to conduct a YouTube live stream on Friday afternoon, and GameStop's volatility is expected to increase.
Editor / jayden