The announcement sent its volatile stock down seven per cent in extended trade and disappointed some of its enthusiastic fanbase of individual investors.
In a quarterly report that was stronger than analysts forecast,
Amazon veteran
“These appointments reflect the refreshed board’s focus on building a technology company and investing in growth,” GameStop said in a statement.
The firm’s shares have almost doubled in the past month to hover near their January high when a massive surge driven by Reddit investors shook up US markets.
Even after falling late last night, GameStop’s stock has gained more than 1,300 per cent in 2021.
While the recent rollout of new videogame consoles could benefit GameStop, analysts warned that its soaring share price has become disconnected from its day-to-day business.
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