GameStop Offers More Shares

GameStop is still on historical levels after its January surge, and the retailer wants to take advantage of this.
Before the start of trading today, it filed with the US Securities and Exchange Commission (SEC) to sell and offer about 3.5 million shares of common stock at market prices.
The GameStop announced before the opening of trading today that it has filed with the US Securities and Exchange Commission to offer and sell up to 3.5 million shares of common stock at market prices.
Today’s shares of Gamestop closed at $186.95. At this price, the offering would raise about $654 million for this retailer.
The company would be able to accelerate its transformation as well as further strengthen its balance sheet and general business purposes with this money.
When 2021 started, GameStop started trading under $19. A group of investors in online communities looked at its shares and thought the stock was being heavily short-sold. They decided that they would buy shares to drive up the price. By the end of January 2021, the price had reached a high of $483.
In February 2021, the stock plateaued around $40 before rising in March. The price remains unstable.
In the past, Gamestop’s policy was to consider a number of factors before offering more shares.
In addition, GameStop announced that the global sales rose 11 percent in the first quarter of 2021.

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