GameStop Issues New Shares, Sending Stock Tumbling
Key TakeawaysGameStop stock is tumbling Friday as the retailer filed to issue up to 45 million new shares.The company also announced initial projections for its first-quarter results, which came in below analyst estimates.The meme stock has erased nearly all the massive gains it recorded earlier this week. GameStop (GME) shares are tumbling 25% in intraday trading Friday after the gaming retailer announced plans to issue up to 45 million new shares and released initial estimates for its first-quarter financ ...