GameStop Shareholder Meeting Postponed Amid Technical Glitches
(Bloomberg) -- GameStop Corp., the ailing video game retailer that’s been the poster child of the meme-stock frenzy, postponed its annual shareholder meeting on Thursday due to technical difficulties with the livestream.
Most Read from Bloomberg
Wells Fargo Fires Over a Dozen for ‘Simulation of Keyboard Activity’
Apple to ‘Pay’ OpenAI for ChatGPT Through Distribution, Not Cash
Hunter Biden Was Convicted. His Dad’s Reaction Was Remarkable.
US Producer Prices Surprise With Biggest Decline Since October
Tech Powers Stocks as Adobe Surges in Late Trading: Markets Wrap
Tens of thousands of people flocked to Twitch, YouTube and X channels, as well as individual chat rooms of small-time investors, to follow the meeting, after the company website that was supposed to host the event repeatedly crashed. After nearly an hour of failed attempts, the company said it would reconvene later when the problems were solved.
Last week, the Grapevine, Texas-based company unexpectedly reported first-quarter results that showed a wider adjusted loss than analysts forecast and a 29% decline in sales. The company also announced a 75 million share sale program that raised $2.14 billion earlier this week, capitalizing on a stock rally fueled by meme-stock trader Keith Gill. The stock was up 4.5% midday in New York.
Most Read from Bloomberg Businessweek
Israeli Scientists Are Shunned by Universities Over the Gaza War
Grieving Families Blame Panera’s Charged Lemonade for Leaving a Deadly Legacy
The World’s Most Online Male Gymnast Prepares for the Paris Olympics
China’s Economic Powerhouse Is Feeling the Brunt of Its Slowdown
©2024 Bloomberg L.P.