GME drops 14% as GameStop announces plans to sell up to 3.5M shares

GME drops 14% as GameStop announces plans to sell up to 3.5M shares

After skyrocketing above $370 following the Reddit-driven short squeeze, GameStop shares are now trading at around $160. GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally.The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total....


Related News

Gamestop Shares and Reddit Fueled Stocks Plummet, Crypto Fans Say Bitcoin Is ...

Following the Wallstreetbets saga last week, a great number of the popular shares being fueled by social media have started to tank in value. Gamestop shares dropped over 60% on Tuesday, while AMC dropped more than 49% shaking investors who bought into these stocks to the core. Meanwhile, a number of cryptocurrency advocates believe the only true way to stick it to the bankers and Wall Street is to leverage digital assets like bitcoin. Reddit’s Favorite Stocks Begin to Feel Pain Last week, news.Bitcoin.com published numerous reports on the fiasco that started on the Reddit forum....

Robinhood users are still limited to one GameStop share

As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GameStop, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Friday, CNBC reported.As per the new....

Jim Cramer thinks GameStop should convert its stores into crypto info centers

The Mad Money host proposed that the company's brick-and-mortar shops could become "crypto-information palaces" in which gamers could buy and sell cryptocurrencies. With GameStop's stock more than doubling in price over the last two days, CNBC’s Jim Cramer is proposing the brick-and-mortar company change its business model to be more inclusive of cryptocurrencies. Speaking on CNBC’s Squawk Box today, the Mad Money host suggested that he had a plan to "justify the stock price" of GameStop. At the time of publication, the price of GME is $131.17 — an increase of more than 175% in the last 24....

Time to shine? Crypto should be given a chance after GameStop drama

The GameStop pump may lead a number of amateur investors to finally learn about DeFi and the advantages it puts forth. What happened to GameStop’s stock at the end of January will be remembered by investors for years to come, as it was probably the first time in the history of the “free market” that a group of self-described internet “degenerates” outsmarted a bunch of Wall Street pros at their own game.As a recap, on Jan 27, when the Dow Jones Industrial Average fell sharply by over 2% — in large part due to the United States Federal Reserve announcing its move to maintain interest rates....

Reddit, Robinhood, Citadel CEOs to Testify at GameStop Hearing

The U.S. House Committee on Financial Services hearing will investigate issues around the recent trading surge for shares of GameStop and other companies.