According to Odaily, the US stock market opened lower than expected in May, with the three major stock indices all starting in the red. The Dow Jones Industrial Average fell by approximately 68 points, while the S&P 500 and the Nasdaq Composite both dropped by 0.25% and 0.29% respectively.
In particular, shares of GameStop (GME.N) plunged by over 19%. The company reported a net loss of $32.3 million in the first quarter. There are reports suggesting that the company may sell up to 75 million Class A shares. The reason behind this potential sale has not been disclosed.
