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GME Jul 2024 27.000 put
- Yahoo Finance Video
What went into meme star GameStop's $933M stock sale
GameStop shares (GME) are on a tear higher Tuesday morning after the video game retailer announced it made $933 million in sales of 45 million common stock on Friday, May 24. What's next for the meme stock coming off of the latest meme trade rally earlier this month? Interactive Brokers Chief Strategist Steve Sosnick shares his thoughts on the trajectory of GameStop stock. "The fact that in GameStop is up about 20-some odd percent this morning because they sold almost $1 billion worth of stock, if this were a normal company, people would be a little bit freaked out because you don't sell stock into the market if you think your stock is undervalued," Sosnick explains. "You do it when you think your stock is overvalued." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.
- Barrons.com
These Stocks Are Moving the Most Today: GameStop, Nvidia, DraftKings, Insmed, U.S. Cellular, Duolingo, Norwegian, and More
GameStop soars after completing an offering of 45 million shares for proceeds of about $933.4 million, Nvidia stock gets a boost from an announcement that Elon Musk’s XAI raised $6 billion in the start-up’s latest fundraising round, and DraftKings tumbles as Illinois senators pass a new budget that includes a tax increase on sports-betting operators.
- Barrons.com
GameStop Stock Surges. The Meme Trade Isn’t Dead Yet.
GameStop stock was rising sharply Tuesday after the company raised nearly $1 billion in a share sale. GameStop shares were up 33% to $35.27 at noon Eastern time, while the was up slightly. Late Friday, GameStop said it had sold 45 million shares, bringing in slightly more than $933 million.
