Why Are GameStop Warrants Trending Overnight?

GameStop warrants (NYSE: GME WS) are trending after closing at $1.43, down 13.33%, and falling further to $1.04 in after-hours trading, a decrease of 27.27%. The company reminded warrant holders that these warrants will expire on October 30, 2026, and can be exercised for one share of common stock at an exercise price of $32. GameStop's common stock closed at $26.44, down 1.38%, and fell to $26.15 in extended trading, with warrants trading volume reported at approximately 2.53 million.