Home Top Movers GameStop Inc. (GME) stock plunged during after-hour session. Here’s the update

GameStop Inc. (GME) stock plunged during after-hour session. Here’s the update

GameStop Inc. (NASDAQ: GME) stock gained by 0.85% at the last close while the GME stock price declines by 5.21% in the after-hours session. GameStop, a Fortune 500 corporation based in Grapevine, Texas, is a large specialty retailer with thousands of storefronts and an online presence that sells games and entertainment items.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Financial Highlights

On June 9, 2021, GME announced its financial results for the first-quarter fiscal 2021. Given below is the summary:

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

  • Despite a nearly 12% drop in GME’s global store base given the strategic de-densification attempts and continued store shutdowns all over Europe due to the COVID-19 pandemic, total sales increased 25.1 percent to $1.277 billion in the fiscal 2021 first quarter, relative to $1.021 billion in the fiscal 2020 first quarter.
  • When compared to the first quarter of fiscal 2020, gross margin was 25.9%, down 180 basis points.
  • Selling, general, and administrative expenditures were recorded at $370.3 million, down $16.2 million, or 4.2 percent, from $386.5 million in the first quarter of fiscal 2020.
  • Operating loss of $40.8 million, down from $108.0 million in the first quarter of fiscal 2020. Adjusted operating loss of $21.6 million, down from $98.8 million in Q1 2020.
  • In the fiscal 2021 first quarter, GME lost $66.8 million, or $1.01 per diluted share, relative to a loss of $165.7 million, or $2.57 per diluted share, in Q1 2020. Adjusted total loss of $29.4 million, or $0.45 per diluted share, versus $157.6 million, or $2.44 per diluted share, in the first quarter of fiscal 2020.
  • Adjusted EBITDA of $0.7 million, a decrease from $75.5 million in the first quarter of fiscal 2020.
  • In Q1 fiscal 2021, income tax expense was $1.3 million, relative to $50.4 million in the first quarter of fiscal 2020.

Read More

Future Expectations

At this time, GameStop is suspending guidance; nonetheless, it thinks that total net sales is the most suitable indicator to use to assess performance. GME’s second-quarter sales trends have been strong, with total sales in May growing by over 27% over the previous year.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Comstock Mining Inc. (LODE) stock soar during pre-market trading. What’s happening?

Comstock Mining Inc. (NASDAQ: LODE) stock gained by 1.14% at last close while the LODE stock price surged by 3.10% in the pre-market trading...

Why MediciNova Inc (MNOV) stock facing negativity since Monday’s after-hours?

MediciNova Inc. (MNOV) shares lost 5.71% in after-hours on Monday, June 21, 2021, and the plummeting continues in the pre-market session on Tuesday as...

Here is why Sanderson Farms Inc. (SAFM) stock rallied on Monday?

Sanderson Farms Inc. (SAFM) shares surged 10.16% in after-hours on Monday, June 21, 2021, and close the day at $183.50 per share. Earlier in...

Torchlight Energy Resources Inc. (TRCH) stock surged during current market trading. Here’s to know why?

Torchlight Energy Resources Inc. (NASDAQ: TRCH) stock gained by 41.33% in the current market trading session. Torchlight Energy Resources is a vast growing oil...

The9 Ltd. (NCTY) stock declined during pre-market trading. Here’s the update

The9 Ltd. (NASDAQ: NCTY) stock plunged by 12% at the last close while the NCTY stock price fell by 7.03% during pre-market trading. The9...

Comstock Mining Inc. (LODE) stock soar during pre-market trading. What’s happening?

Comstock Mining Inc. (NASDAQ: LODE) stock gained by 1.14% at last close while the LODE stock price surged by 3.10% in the pre-market trading...

Vinco Ventures, Inc. (BBIG) stock surged during pre-market trading, given no recent news.

Vinco Ventures, Inc. (NASDAQ: BBIG) stock gained by 11.75% at last close whereas the BBIG surged by 7.38% in the pre-market trading. Vinco Ventures...

Why MediciNova Inc (MNOV) stock facing negativity since Monday’s after-hours?

MediciNova Inc. (MNOV) shares lost 5.71% in after-hours on Monday, June 21, 2021, and the plummeting continues in the pre-market session on Tuesday as...

Related News

Tupperware Brands Corp. (TUP) stock soar during pre-market trading. Here’s to know why?

Tupperware Brands Corp. (NASDAQ: TUP) stock gained by 0.3% at the last close while the TUP stock price surged by 6.83% in the pre-market...

Why Eyenovia Inc. (EYEN) stock price went up in the after-market on Friday?

Eyenovia Inc. (EYEN) shares pop up 8.41% in after-hours on Friday, June 18, 2021, and close the week at $5.80 per share. Earlier, EYEN's...

CorMedix Inc. (CRMD) stock surged during after-hour session. What has been happening lately?

CorMedix Inc. (NASDAQ: CRMD) stock fell by 1.91% at last close while the CRMD stock price gains by 6.49% in the after-hours session. There...

Edesa Biotech Inc. (EDSA) stock surged during current market trading. Here’s to know why?

Edesa Biotech Inc. (NASDAQ: EDSA) stock gained by 4.22% in the current market trading. Edesa Biotech is a clinical-stage biopharmaceutical business dedicated on the...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam