Why GameStop Stock Is Down By 13% Today
- Date: 11-Jun-2021
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Why GameStop Stock Is Down By 13% Today
GameStop Video 10.06.21.
Shares of GameStop gained downside momentum after the company released its quarterly results.
GameStop reported an adjusted loss of $0.45 per share and revenue of $1.28 billion, easily beating analyst estimates on both earnings and revenue. GameStop noted that it had $770.8 million of cash and restricted cash on May 1, 2021, while it had not borrowings under the asset-based revolving credit facility and no long-term debt.
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