GameStop Posts Downbeat Results, Joins Direct Digital, Forge Global And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were higher this morning, with the Dow futures gaining by more than 100 points on Wednesday.

Shares of GameStop Corp. GME fell sharply in today’s pre-market trading as the company posted weaker-than-expected results for its fourth quarter on Tuesday.

GameStop reported fourth-quarter net sales of $1.794 billion, down from $2.226 billion year-over-year. The net sales total missed a Street consensus estimate of $2.05 billion, according to data from Benzinga Pro. The company reported earnings per share of 22 cents for the fourth quarter, missing a Street estimate of 29 cents per share.

GameStop shares dipped 14.9% to $13.19 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• Direct Digital Holdings, Inc. DRCT shares tumbled 39.8% to $15.95 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
• Forge Global Holdings, Inc. FRGE dipped 12.4% to $2.32 in pre-market trading after the company reported worse-than-expected fourth-quarter financial results.
• Mesoblast Limited MESO shares fell 12.1% to $3.45 in pre-market trading. Mesoblast shares jumped over 78% on Tuesday after the FDA informed the company that the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support submission of the proposed Biologics License Application for remestemcel-L for treatment of pediatric patients with steroid-refractory acute graft versus host disease.
• Ero Copper Corp. ERO shares declined 8.3% to $17.02 in pre-market trading. On March 7, Ero Copper posted downbeat quarterly earnings.
• Waterdrop Inc. WDH shares fell 7% to $1.20 in pre-market trading. Waterdrop declared a special cash dividend, the aggregate payment of which amounted to approximately US$15 million.
• Cenovus Energy Inc. CVE shares declined 5.7% to $18.74.
• XPeng Inc. XPEV shares fell 4.5% to $8.16 in pre-market trading.
• BrightSpire Capital, Inc. BRSP fell 4.1% to $6.40 in pre-market trading.

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