🧵 1. GameStop raises over $2 billion through sale of 75 million shares amidst meme frenzy, sparked by trader Roaring Kitty's return to the scene. #gaming
🧵 1. GameStop raises over $2 billion through sale of 75 million shares amidst meme frenzy, sparked by trader Roaring Kitty's return to the scene. #gaming
🧵 2. Announced in a Tuesday evening offering, GameStop plans to use the $2.14 billion raised for general corporate purposes, including potential acquisitions.
🧵 3. Stock dips over 1% in premarket trade after sale. Shares continue volatile upswing, currently up 8% this week.
🧵 4. Wedbush analyst estimates sale at $28.50 per share, linked to Roaring Kitty's Youtube livestream sell-off last Friday, resulting in a 40% drop.
🧵 5. Roaring Kitty's livestream coincided with GameStop's early earnings report release, revealing a 29% sales decline and leading to a stock sell-off.
🧵 Read more at: https://www.cnbc.com/2024/06/12/gamestop-raises-more-than-2-billion-by-selling-75-million-shares-capitalizing-on-meme-frenzy.html