GameStop suffers a double whammy of a SEC subpoena and a bigger-than-expected loss

Video game retailer GameStop Corp has revealed that it was issued a subpoena by the U.S. securities regulator back in August.

GameStop was subpoenaed for documents on an investigation into its share trading activity.

GameStop also reported a bigger-than-expected quarterly loss.

GameStop’s shares were down 4.4% at $166 in extended trading, after having gained more than nine times so far this year.

On an adjusted basis, the company lost $1.39 per share in the third quarter ended Oct. 30, compared with estimates of a loss of $0.52 per share, according to Refinitiv IBES data.

GameStop’s overall revenue rose to $1.30 billion, beating estimates of $1.19 billion.


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