GameStop shares sink after company update on business, plans stock sale

GameStop shares tumbled on Friday after the video game retailer released preliminary financial results and announced a plan to sell millions of shares of common stock. Under the sale agreement, the company said it may sell as many as 45 million shares of its common stock using Jefferies as its sales agent, according to a filing with the Securities and Exchange Commission (SEC).Ticker Security Last Change Change % GME GAMESTOP CORP. 20.48 -7.17 -25.94% "The Company intends to use the net proceeds from the O ...