Meme Stocks: (GME) GameStop Stock News: Reported Wider Than Expected Losses | Rebecca Duthie

Brent hits one-month high! Saudi and Russian cuts supporting recent moves

Summary:

  • GameStop stocks rose, fell and then settled

GameStop reported a net loss

On Wednesday GameStop reported a wider-than-expected net loss for the first quarter, and declined to provide an outlook for the market. In the wake of the news, the stock rose, fell and settled at a level close to unchanged.

GameStop reported a $158 million loss, or $2.08 per share loss. The speciality retailer is one of the most recognised names amongst the meme stocks. GameStops claims they are keeping their inventory levels high amidst increasing customer demand and supply chain worries.

GameStop Reported Wider Than Expected Losses - 1 GameStop Price Chart

Read next: S&P 500 Loses Tuesdays Gains, Australian Dollar Was Wednesdays Best Performing Currency 

Sources: finance.yahoo.com, marketwatch.com

Brent hits one-month high! Saudi and Russian cuts supporting recent moves

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.