GameStop (GME) Stock Is “All Go” Today After Raising ~$1Bn in Stock Sale, Shares Up ~30%
May 28, 2024 at 12:50 pm - by Ashlee Vogenthaler
As GameStop (GME) shares soared today up ~30%, some investors who had not seen Friday’s news were wondering if we were on the cusp of another meme rally. However, the company announced at the end of last week that it had raised $933M from a stock sale of 45 million shares.
While the company did not disclose at what price the shares were sold they did say it was an “at-the-market” offering and not a pre-determined price. This news comes on the heels of the recent meme rally that sent GameStop and others such as AMC Entertainment on a tear as notorious meme investor “Roaring Kitty” made a social media comeback.
