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AMC Insiders Sell Another $4 Million in Shares Amid Reddit Rally

Reuters

GameStop taps Amazon Australia chief as CEO, may sell shares

(Reuters) -GameStop on Wednesday named the head of Amazon’s Australian business as its CEO and said the struggling videogame retailer may sell new shares, sending its volatile stock down 7% in extended trade and disappointing some of its ardent fan base of individual investors. In a quarterly report that was stronger than analysts forecast, GameStop said it may sell up to 5 million new shares, which would be worth $1.4 billion based on its latest share price. Matt Furlong, a nine-year Amazon veteran, will succeed George Sherman as chief executive officer.

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