GameStop announced that it could sell an additional 5 million shares. While this is positive for the company and doesn’t create much dilution, it lost investors almost $6 billion in one day.
Investors have basically shrugged at hotter-than-expected inflation data this morning, perhaps because the 10-year yield is indicating overall inflation worries have been easing
According to WGME, authorities have arrested the person they suspect is responsible for putting razor blades inside fresh pizza dough sold at Hannaford Supermarkets.
3 hours ago
GameStop aims to be more like Amazon. The meme stock darling, a formerly ailing brick and mortar video game retailer, says it will undergo an e-commerce transformation in the coming months. To pull it off, the company announced on Wednesday (June 9) during an earnings call that it planned to issue 5 million more shares of stock and it had hired two Amazon executives to serve as its new chief executive officer and chief financial officer.
But that was about as far as GameStop was willing to go in discussing its strategy to reinvent itself as an e-commerce success. During the company’s earnings call this Wednesday, only one speaker, outgoing chief executive George Sherman, spoke for just 10 minutes before ending the webcast without taking any questions from outside analysts.