GameStop Corporation's stock is experiencing a decline today, primarily influenced by insider selling activities. On January 7th, it was reported that General Counsel Mark Haymond Robinson sold 1,577 shares, and insider Daniel William Moore sold 895 shares. These transactions, disclosed in filings with the Securities & Exchange Commission, have raised concerns among investors about potential insider sentiment regarding the company's future prospects.
Adding to the negative sentiment, discussions on Reddit have highlighted the closure of local GameStop stores, which has been a point of concern for both investors and customers. One user expressed their disappointment, stating, "I'm so heartbroken for them, especially seeing how corporate is handling all of this." Another user speculated about the company's future, saying, "I think GameStop is about to go under soon if a very old Funcoland location keeps closing."
The current price of GameStop's stock is $32.49, reflecting a 1.01% decrease from the previous close of $32.82. Despite being just 30 minutes into the trading day, the stock has already seen a volume of 1,633,476 shares, which is 15.12% of its average daily volume of 10,803,404 shares, indicating a moderate level of trading activity this morning.