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Kiplinger

Business

Joey Solitro

GameStop Stock Adds To Losses After Roaring Kitty Livestream

Roaring Kitty GameStop Keith Gill GME

GameStop signage on screen at the New York Stock Exchange.

GameStop (GME) stock was down around 20% mid-morning Friday after the video-game retailer unexpectedly released its fiscal first-quarter earnings report and announced another large stock offering. However, shares fell even further following a lunchtime livestream hosted by the investor known as Roaring Kitty.

Starting with the earnings report. In the 13 weeks ended May 4, GameStop's net sales decreased 28.7% year-over-year to $882 million and its net loss per share narrowed to 11 cents from 17 cents in the year-ago period.

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