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On February 24, the GameStop stock price doubled within a 90-minute period, and then averaged approximately $200 per share for another month. On March 24, the GameStop stock price fell 34 percent to $120.34 per share after earnings were released and the company announced plans for issuing a new secondary stock offering.
In a regulatory disclosure filed this morning, GameStop announced it was selling up to 45 million shares, which are worth about $950 million at current market prices.
GameStop did not disclose the price at which it sold the shares, but based on Reuters calculations, they were sold at an average price of $20.74 each. Its shares were currently trading at $21.93.
The stock surged 25% on the news. Typically, investors would expect the stock price of a company issuing new shares — which dilute the value of current holdings — to decline after a stock sale.
GameStop stock sank nearly 40% Friday in highly volatile trading as GameStop filed to sell millions of shares — and more than half a million viewers tuned in for a much anticipated YouTube ...
With today's gains, the stock now has a market value of roughly $9 billion, but at its peak was worth about $37 billion. ... buying back later when the price falls. On Monday, no GameStop shares ...
(Reuters) -Shares of GameStop and AMC slipped in volatile premarket trading on Wednesday, following sharp gains this week after "Roaring Kitty" Keith Gill, the central figure behind the 2021 meme ...
GameStop stock tanked in pre-market trading on Thursday after the company ... his Sell rating on shares of GameStop and lowered his price target to $6.20 from $6.50. ... latest stock market news ...