May 17, 2024, 5:29 PM
May 17, 2024, 12:00 AM

GameStop shares plummet after announcing plans to sell securities following meme-stock rally

Highlights
  • GameStop shares dropped by 24% after the company revealed intentions to sell up to 45 million shares post meme-stock surge.
  • Investors were disappointed by the lukewarm business update provided by GameStop alongside the announcement of the stock sale plan.
  • The stock decline follows a broader 'meme stock' rally earlier in the week.

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