GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped

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Gamestop Corp News

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GameStop said it plans to sell securities and reported preliminary results that showed a sales decline in the first quarter.

The video game retailer reported preliminary results that showed a sales decline in the first quarter.

In a new regulatory filing, the firm said it's selling up to 45 million class A common shares in an at-the-market offering. The offering comes after GameStop's stock surged earlier this week in a brief revival of the meme stock trade.

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