GameStop shares fall after it files to sell securities, says first quarter sales declined

In a separate filing, GameStop indicated its plan to offer securities for an undisclosed amount. The company said it could be a mixed offering of common stock, preferred shares and depositary shares, warrants, purchase contracts, units and subscription rights that may be convertible into common stock.

The move followed a swift rally in the beginning of the week after the return of “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, triggered a retail trading frenzy. The rally only lasted two days, however, with much smaller net retail trader inflows compared to the trading mania three years ago.

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