AP GameStop Director Sells Shares Monday May 7, 12:25 pm ET GameStop Director Gerald R Szczepanski Sells 8,000 Shares
NEW YORK (AP) -- A director of GameStop Corp., which retails video games and software, sold 8,000 shares of common stock last week, according to a Securities and Exchange Commission filing. In a Form 4 filed with the SEC Friday, Gerald R. Szczepanski reported he sold the shares Wednesday for $33.73 to $33.77 apiece.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
GameStop is based in Grapevine, Texas.
Shares of the company rose 1 cent to $33.26 in midday trading.
Big deal. The company is growing by leaps and bounds right now. They are pushing for an aggressive expansion project that's going to open up another 600 stores I believe just this year. Gonna pay off leaps and bounds when this christmas season rolls around. Consoles are going to be flying off the shelves left and right and people are going to buying games by the handful.
I'm not selling a single share of this company and will continue to accumulate on any significant pullback.
See, whether they are done or not, the damage is done and a message is sent. Why are insiders dumping millions of shares if things are going great? I would love to be long GME again however the downside risk is too much. Actually, what stalled the GME rally was the insider selling spate.