:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2156542191-108bff1f374349e895e0bf8593939fbd.jpg "People are seen outside of a GameStop store on East 14th Street on June 7, 2024, in New York City")
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Key Takeaways
- GameStop announced it had completed a stock sale that it began just last Friday.
- The struggling video artifice retailer said it sold the maximum amount of shares in the offering and brought in $2.14 billion.
- The speed of the sale may tease been helped by meme stock darling “Roaring Kitty,” who has recently used social media to discuss his investment in GameStop.
GameStop (GME) appears to acquire gotten a boost from “Roaring Kitty.”
The struggling video game retailer and meme stock darling utter it has completed the stock sale it announced just last Friday, when it also unexpectedly released first-quarter earnings.
GameStop Shop-girls 75 Million Shares, Raises About $2.14 Billion
GameStop said that it had sold the maximum reckon of shares in the prospectus, 75 million, and raised approximately $2.14 billion. The company noted that it intends to use the the ready raised for general corporate purposes, “which may include acquisitions and investments.”
The speed by which the sale was completed may receive been driven by meme-stock hero “Roaring Kitty,” a.k.a. Keith Gill, who earlier this month indicated in a Reddit strut that he held a large position in GameStop, and then followed that up with a long YouTube livestream chew the fating about it.
GameStop shares edged 0.5% higher in volatile trading to $30.65 as of 10:37 a.m. ET Wednesday after switch as low as $28.35 earlier in the session.
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