FILE - A GameStop sign is displayed above a store in Urbandale, Iowa, on Jan. 28, 2021. GameStop managed to narrow its losses in the first quarter, but the video game retailer's revenue fell as sales weakened for hardware and accessories, software and collectibles.
GameStop also filed paperwork with securities regulators to sell up to 75 million shares of stock. In the filing GameStop noted that between Feb. 4 and June 6, the closing price of its stock has ranged between $10.01 and $48.75, and daily trading volume ranged from 1.7 million shares to nearly 207 million shares. “During such period, we did not experience any material changes in our financial condition or results of operations that would explain such price volatility or trading volume.
GameStop's disclosures of its first-quarter financials and stock sale come after Keith Gill, better known as “Roaring Kitty,” announced that he'd be hosting a YouTube livestream at noon ET on Friday. Investors that follow the company's stock will be looking to see if Gill talks about his position in GameStop's shares, as earlier this week there wasGill also goes by the name Deep F- - - - - - Value on Reddit.
Gill and those who agreed with him changed the trajectory of a company that appeared to be headed for bankruptcy by buying up thousands of GameStop shares in the face of almost any accepted metrics that told investors that the company was in serious trouble.
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