Gamespot released its first earnings report on Tuesday as Redsdit became the subject of international attention during a fuel-buying rally and named Jenna Owens, a former executive at Amazon and Google, as its new chief operating operating officer.
The company’s sales and profit figures were slightly lower than analysts had expected, and its shares, which fell.
Game Stop’s net sales in the fourth quarter of 2020 were 12 2.12bn compared to 19 2.19bn in the fourth quarter of fiscal year 2019. Net income was $ 80.5 million, both figures below analysts’ forecasts.
The troubled video games retailer grew 1,700% from December to the end of January, adding an army of small investors to the Wall StreetBates around the Reddit platform.
Investors claimed that Wall Street investors had bet that share prices would break and its acquisition would turn a fortune – the founder of pet online pet supply store Chevy – bought a stake in the company and joined its board. .
Extraordinary price increases in Gamestop and other so-called meme stocks have prompted congressional inquiries into markets and trading app Robinhood.
Shares as low as 13dl in December fell again on 27th February in February and reached 347dlr before rebounding in March. Gamestop Pay told investors on Tuesday that the share price is 1,181, which is worth. 12.7bn.
Prior to the release, Gamestep announced the resignation of its chief customer officer, Frank Hamelin, the latest in a series of exits since Cohen joined the board.
After the results call ended early, some on Reddit complained about the Displaster call, without a general questioning session by chief executive, George Sherman. “Yes, that call was worse than that. No questions ?? After the most volatile thing we saw in the stock market… maybe ever? He was disappointed, “wrote one Redditter.
“The guys don’t cool down after this report. We knew nothing had changed. Just, get out.
