GameStop (GME) reported its Q1 2023 earnings results on Wednesday, detailing the number of directly registered shares (DRS) of its common stock.
GameStop reported 76.6 million DRS during Q1 2023. Previously, GameStop reported 76 million DRS in Q4 2022, and 71.8 million in Q3 2022. It’s important to note that this isn’t strictly a registered share increase, but the net of shareholders who sold versus those who bought and registered. Directly registered shares have been a hot topic among GameStop shareholders, as some believe that there are more shares out there than what actually exists.
The company had this to say in its earnings report:
Directly registered shares aside, this was not a typical earnings report for GameStop. In addition to reporting its financial results, the company disclosed that it fired CEO Matt Furlong and named Ryan Cohen Executive Chairman. The weirdness doesn’t stop there, as the company also surprised investors by canceling its Q1 2023 earnings call through its earnings results press release.
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