Gamestop down after announcing another share offering ahead of 'Roaring Kitty' livestream
Updates
** Shares of videogame retailer Gamestop GME.N plunge 22.6% to $36.10
** Stock set for its worst day in more than three weeks, if losses hold
** Company will sell an additional up to 75 mln common shares, which can help raise around $2.7 bln based on its current stock price, as per Reuters calculations
** GME also reports Q1 net sales of $881.8 mln, down from $1.24 bln a year ago
** Company's reported results ahead of its scheduled release on June 11; says will not hold a conference call on Friday
** Stock influencer Keith Gill, who goes by "Roaring Kitty", is scheduled to host a livestream at 12 p.m. ET (1600 GMT) on Friday, as per his YouTube post
** On June 2, Gill — who drove a retail trading frenzy or "meme stock rally" in 2021 by sparking bullish calls on Gamestop — had posted a screenshot on his Reddit account making a $116-mln bet on GME
** Other meme stocks such as AMC Entertainment AMC.N, Koss Corp KOSS.N and Tupperware Brands TUP.N also traded down between 4% and 7%
** Retail trading platform Robinhood Markets HOOD.O last up 2.1%
** GME stock has more than doubled YTD
Reporting by Nikhil Sharma and Purvi Agarwal in Bengaluru
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