Sr. Correspondent, Broker Research, Bangalore, India
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GameStop attracts bearish options bets after weak results hit shares

NEW YORK (Reuters) – GameStop Corp’s (GME.N: Quote, Profile, Research, Stock Buzz) shares fell 13 percent on Friday, a day after the company posted disappointing quarterly results, and its options attracted bearish bets as traders appeared to be preparing for a further slide in the share price over coming months.

Shares of GameStop, the world’s largest retailer of video game products, closed down $5.68 at $37.86 on Friday on the New York Stock Exchange and contracts volume on its options surged to 104,000, or seven times the norm.

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    • About Saqib

      "Saqib is Senior correspondent, Broker Research and leads a team of five reporters covering equities research. He previously worked as a producer on the Reuters Global Online desk. He joined Reuters in 2009 after graduating from the Asian College of Journalism."
      Joined Reuters:
      2009
      Languages:
      English, Hindi, Bengali
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