As we comb the information that came out of GameStop’s Q2 2023 earnings results, one rather interesting metric to come out of the report was the currently reported number of directly registered shares (DRS) for GME. In Q2 2023, as of August 31, 2023, GameStop reported 75.4 million DRS in circulation. This was actually more than a million shares down from what was reported in Q1 2023.
GameStop reported its most recent metric for DRS in the Form 10-Q report that accompanied its Q2 2023 earnings results. In said form, GameStop reported a volume of 75.4 million directly registered shares as of August 31, 2023. This was down about 1.2 million shares from Q1 2023, in which GameStop previously reported 76.6 million DRS. It’s a notable drop and an interesting metric on the back of an otherwise satisfactory quarter for the company in comparison to estimates.
GameStop has been an investment roller coaster over the course of the last several years. The company came into 2023 in a fairly confident state, claiming it had the path to “full-year profitability”. That seemed to have been thrown into turmoil when the company fired its former CEO earlier this year and made Ryan Cohen Executive Chairman. For all the effort that has gone into the company turning itself around, including ridding itself of much of its debt, GameStop still seems to be in an unstable place as shares jump around in value.
It's curious to see GameStop DRS take a drop quarter to quarter, but share values are up in after-hours trading. Stay tuned as we continue to report on further GameStop and GME news, as well as other tech and gaming companies reporting earnings results, right here at Shacknews.