GameStopShares fell by more than 2 percent in extended trading Wednesday after video retailer GameStop reported its fiscal third quarter losses had increased.

According to the video retailer, its net loss increased from $18.8million, which was 29 cents per shares, to $105.4 millions, $1.39 per share.

The total revenue rose to $1.30 Billion from $1.00 Billion a year ago.

Reddit posts, and the meme stock frenzy have brought new attention to GameStop. Along with meme stocks such as GameStop, the shares of this company have shot up. AMCAnd Bed Bath & Beyond.This led to the U.S. Securities and Exchange Commission scrutinizing the matter. prompting the regulatory body to request documents about trading activity.

GameStop has attempted to transition from being a brick and mortar retailer into an ecommerce store. tapped a slate of new leaders. It was enlisted ChewyRyan Cohen is Ryan Cohen’s co-founder to lead the company’s turnaroundAs chairman of the board, he was also responsible for the hiring of former employees. By hiring ex-managers, he reorganized top management. AmazonMatthew Furlong (executive) and Mike Recupero (executive). as CEO and COO, respectively.

GameStop shares were up 825% as of Wednesday’s close. Tuesday’s close saw shares closing at $173.65. That is down by 2.34%. Its market capitalization is $13.28 Billion.

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