Why GameStop Shares Are Trading Lower By Over 22%? Here Are Other Stocks Moving In Friday's Mid-Day Session

Shares of GameStop Corp. GME fell sharply during Friday's session after the company released worse-than-expected first-quarter results before schedule and filed to sell up to 75 million shares.

GameStop released its first-quarter 2024 results early Friday ahead of its scheduled June 11 date. The company reported net sales of $881.8 million, down from $1.237 billion year-over-year. The net sales total missed a consensus estimate of $995.3 million. The company reported a loss of 12 cents per share, missing the estimate of a loss of 9 cents per share, according to data from Benzinga Pro.

GameStop shares dipped 22.5% to $36.07 on Friday.

Here are some other stocks moving in today’s mid-day session.

Gainers

• Trinity Place Holdings Inc. TPHS jumped 165.4% to $0.3220 after declining around 11% on Thursday.
• Leafly Holdings, Inc. LFLY shares gained 91.6% to $3.87.
• Venus Concept Inc. VERO shares jumped 87.5% to $1.1606 on continued upward momentum after the stock regained Nasdaq compliance.
• Asensus Surgical, Inc. ASXC climbed 40.1% to $0.3291 after the company announced it will be acquired by KARL STORZ for $0.35 per share in cash.
• Faraday Future Intelligent Electric Inc. FFIE gained 29.3% to $0.7032.
• Geron Corporation GERN shares jumped 26% to $4.90 as the company reported the FDA approval of RYTELO™ (imetelstat), a first-in-class telomerase inhibitor, for the treatment of adult patients with lower-risk MDS with transfusion-dependent anemia.
• China Liberal Education Holdings Limited CLEU gained 23.4% to $2.4899.
• American Oncology Network, Inc. AONC gained 22.6% to $2.0850. American Oncology Network recently announced the opening of Low Country Radiation in Waycross, Georgia.
• MAIA Biotechnology, Inc. MAIA rose 21.2% to $4.0249. The company unveiled compelling efficacy data from its Phase 2 THIO-101 clinical trial.
• ChromaDex Corporation CDXC gained 19.2% to $3.41 after the company received exclusive FDA Orphan Drug Designation and Rare Pediatric Disease Designation for Nicotinamide Riboside Chloride in the treatment of Ataxia Telangiectasia.
• SunPower Corporation SPWR rose 18.8% to $4.11.
• Oddity Tech Ltd. ODD gained 18.3% to $43.49 after the company approved a share buyback and raised its Q2 guidance.
• Universe Pharmaceuticals INC UPC jumped 14.3% to $2.64
• Presto Automation Inc. PRST rose 14.1% to $0.0866 after declining 27% on Thursday.
• Yext, Inc. YEXT gained 14.7% to $5.42. Yext is said to hire investment bankers to explore strategic alternatives, including a sale, Reuters reported.
• Argan, Inc. AGX jumped 11.1% to $76.78 after the company reported better-than-expected first-quarter financial results.
• Planet Labs PBC PL gained 9.6% to $1.9950 following better-than-expected quarterly earnings.
• Braze, Inc. BRZE rose 4.2% to $38.32 following better-than-expected first-quarter earnings.

Losers

• Biomea Fusion, Inc. BMEA shares dipped 65.6% to $3.87 after the United States Food and Drug Administration (FDA) imposed a full clinical hold on its Phase I/II trials for BMF-219, a diabetes treatment.
• Barnes & Noble Education, Inc BNED fell 35.3% to $0.2101 after the company announced final results of rights offering.
• Scinai Immunotherapeutics Ltd. SCNI fell 31.3% to $2.7474. Scinai Immunotherapeutics regained compliance with Nasdaq minimum bid price requirement.
• Volcon, Inc. VLCN fell 29.3% to $9.90. Volcon recently announced a 1-for-100 reverse stock split.
• Latam Logistic Properties, S.A. LPA shares fell 26.4% to $34.69 after jumping 49% on Thursday.
• Hywin Holdings Ltd. HYW dipped 24.7% to $0.4670.
• MicroAlgo Inc. MLGO shares fell 24.2% to $4.24. MicroAlgo recently announced that it entered into convertible note purchase agreements with certain investors.
• Actelis Networks, Inc. ASNS dipped 23% to $1.5101. Actelis announced closing of exercise of warrants for $3 million gross proceeds.
• Semtech Corporation SMTC dipped 19.6% to $30.54 after the company announced it has appointed a new President and CEO and reaffirmed Q2 2025 guidance.
• Gorilla Technology Group Inc. GRRR fell 19.3% to $4.7699 after announcing a $12 million registered direct offering.
• Bright Green Corporation BGXX shares fell 18.7% to $0.2851 after declining around 8% on Thursday.
• Seres Therapeutics, Inc. MCRB declined 18.7% to $0.6916. Canaccord Genuity analyst John Newman maintained Seres Therapeutics with a Buy and lowered the price target from $15 to $10.
• CEA Industries Inc. CEAD dipped 18% to $6.65.
• Oil-Dri Corporation of America ODC fell 17.3% to $68.57 following third-quarter results.
• mF International Limited MFI fell 17.1% to $1.07.
• Vail Resorts, Inc. MTN shares declined 13.6% to $167.50 after the company reported weaker-than-expected results for its third quarter on Thursday.
• Samsara Inc. IOT shares dipped 13.4% to $30.17 after the company reported first-quarter earnings.
• Moving iMage Technologies, Inc. MITQ fell 10.3% to $0.6001 after declining 33% on Thursday. Moving iMage Technologies was recently awarded a multi-million dollar contract.
• Novavax, Inc. NVAX declined 10.2% to $17.56.
• Sify Technologies Limited SIFY fell 10.1% to $0.8001 as the company announced commencement of its previously announced rights offering.
• Harmony Gold Mining Company Limited HMY fell 9.2% to $8.36. Shares of precious metals companies traded lower amid a decline in gold and silver following US economic data.
• Concrete Pumping Holdings, Inc. BBCP shares dipped 8% to $6.93 after posting weaker-than-expected second-quarter results.
• Upstart Holdings, Inc. UPST tumbled 8% to $24.75.
• American Software, Inc. AMSWA declined 7.5% to $9.55 following quarterly results. B. Riley Securities analyst Zach Cummings maintained American Software with a Buy and lowered the price target from $16 to $14.
• DocuSign, Inc. DOCU shares fell 7.4% to $50.57. DocuSign reported better-than-expected earnings for its first quarter and the company’s board also authorized a $1 billion increase to its existing stock repurchase program. The company said it sees second-quarter billings in the range of $715 million to $725 million.
• Impinj, Inc. PI fell 7.1% to $153.03.
• Gen Digital Inc. GEN declined 5.2% to $24.13 after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $28 to $27.

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