GameStop Stock: Delayed Filings and Latest Direct Registration Numbers Update

GameStop, the video game retailer company that has taken Wall Street by storm, is still showing indications of enduring success. Nonetheless, the organization has been grappling with a slew of difficulties lately that have concerned investors.

Delayed Filings

The latest obstacle GameStop has faced is a delay in the submission of its annual report due to a slew of COVID-19 consequences, according to a recent announcement. The retailer stated that “because of the COVID-19 pandemic, as well as several management and other personnel transitions, various delays arose with respect to the audit of the company’s financial statements, including its statements for the fiscal year ended February 1, 2020.”

Direct Registration Numbers Update

In spite of the organizational turmoil and scandal surrounding the GameStop phenomenon, the company’s direct registration program (DRP) continues to be a success. The DRP enables shareholders to own stock in their own names rather than through a broker or brokerage house, which could offer several advantages such as saving on commissions and having a closer relationship with GameStop.

According to the latest SEC filings, GameStop’s DRP program climbed to 223,000-plus participants as of June 10, 2021, up from 212,259 participants as of June 2, 2021. The total number of shares enrolled in the program has also increased, to approximately 14.3 million.

Summary

In conclusion, while GameStop faces challenges such as delayed filings, the company’s DRP continues to be a hit among investors. The growing number of DRP participants is a big win for the organization and demonstrates faith in its ability to perform in the long run.

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