The world’s flagship meme stock fell more 27% Thursday to $220.39 after the company’s recent announcement it intends to cooperate with an SEC investigation. It’s not a direct investigation into the GameStop Corp (NYSE:GME), rather it’s what the regulator refers to as the ‘phenomenon of meme stocks.’
In a more positive twist, GME just appointed a new CEO, Veteran e-commerce leader formerly from Amazon Matt Furlong, and technology industry finance executive Mike Recupero as CFO.
The company’s net sales increased 25.1% to $1.277 billion, compared to $1.021 billion in fiscal 2020 Q1 net sales. ...
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GME Plunged 27% Yesterday After SEC Investigation into Meme Stocks