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Game Stop's stock continued crashing on Monday.
On Friday, the stock closed lower by 39% after the company reported fiscal first-quarter earnings ahead of its schedule and Roaring Kitty (Keith Gill) held a live stream.
In 2021, Gill helped propel the Game Stop stock price value.
When his Friday livestream ended, investors appeared more disappointed than anything else.
The video game retailer reported net sales of $881.8 million, down from $1.237 billion last year, lagging the analyst consensus estimate of $995.3 million.
GameStop reported an EPS loss of $(0.12), missing the analyst consensus estimate loss of $(0.09).
The quarterly net loss improved to $(32.3) million, down from $(50.5) million last year. GameStop also disclosed an at-the-market offering program, which permitted the sale of up to 75 million shares.The retailer’s core business has been declining, with store numbers shrinking by over a quarter in five years, but investment gains have mitigated some losses.
Polymarket traders were giving GME a 28% chance of a trading halt on Monday.
This market will resolve to "Yes" if trading on the GameStop Corp stock ($GME) has any LULD pauses applied to it on June 10, 2024, between market open and market close. Otherwise, this market will resolve to "No".
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