GameStop Stock Adds To Losses After Roaring Kitty Livestream

GameStop shares were already lower Friday after an early earnings release and news of another stock offering, but fell further after Roaring Kitty's livestream.

GameStop signage on screen at the New York Stock Exchange
(Image credit: Michael Nagle/Bloomberg via Getty Images)

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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Joey Solitro

Joey Solitro is a freelance financial journalist at Kiplinger with more than a decade of experience. A longtime equity analyst, Joey has covered a range of industries for media outlets including The Motley Fool, Seeking Alpha, Market Realist, and TipRanks. Joey holds a bachelor's degree in business administration.