The company’s stock plummeted after the market closed.
(Photo: Reuters)
Bangalore Mike Recupero has left the US company, reports the politics and news website Axios, citing a company memorandum on Thursday. An Axios reporter wrote on Twitter that Recupero would be replaced by the head of accounting, Diana Jajeh. GameStop is also laying off employees.
GameStop shares fell eight percent in after-hours trading. GameStop was initially unavailable for comment. Previously, the shares were up 15 percent from regular trading on Wall Street following the announcement of a stock split.
GameStop is one of the so-called “meme stocks” that small investors call on each other to buy in relevant Internet forums, such as Reddit. This has affected hedge funds in the past, which had speculated on a price decline by short selling.
More: New risks for the markets: star economist Mohamed El-Erian fears three scenarios
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