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GameStop’s stock had closed on March 19, 2020, at $4.19, which means 3.3 million shares would be worth about $13.8 million. At Wednesday’s closing price of $347.51, those 3.3 million shares would be worth $1.15 billion, representing an increase of about $1.13 billion.Why did GameStop go down 15%?
GameStop Stock Tumbles 15% After Reporting a Bigger-Than-Expected Loss. GameStop reported a loss of 32 cents a share, missing forecasts for an 18 cents share, according to FactSet, on sales of $1.29 billion, below estimates for $1.34 billion.Who is the second largest shareholder of GameStop?
Ryan Cohen, who manages activist investor RC Ventures LLC, which is GameStop’s second largest shareholder, owned 9,001,000 shares, or 12.9% of shares outstanding, according to a filing with the Securities and Exchange Commission before the Jan. 11 open.How many shares of GameStop does mitmust own?
MUST had previously owned 3.3 million shares, or about 4.7% of all shares outstanding, which made it GameStop’s ninth largest shareholder, according to data provided by FactSet. The 3.3 million–share stake was first disclosed before the March 20, 2020, opening bell, when it represented 5% of GameStop shares outstanding.