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Why GameStop Stock Just Dropped 18%

TheMotleyFool

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Pity investors who've stuck by GameStop (NYSE: GME) stock through its years-long decline. They're getting punished, not rewarded, for their loyalty today, as the consumer discretionary stock has plunged 18.2% (through 10:40 a.m. EST) after a truly miserable fiscal Q3 earnings report.

Heading into earnings, analysts had expected GameStop to report a pro forma, per-share profit of $0.11 on sales of $1.62 billion. Instead, GameStop reported a $0.49-per-share loss on sales of just $1.44 billion. (And that was just the pro forma number. Calculated according to generally accepted accounting principles or GAAP, GameStop lost $1.02 per share).

Image source: Getty Images.

Source Fool.com

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