Market Globalist

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.

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Financial Highlights

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

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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.

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