Why GameStop Shares Are Rallying Friday
Portfolio Pulse from Chris Katje
GameStop (NYSE:GME) shares are rallying in after-hours trading following the completion of its at-the-market equity offering program, raising $933.4 million. The stock price increase suggests investors see the dilution as complete and shares as undervalued.
May 24, 2024 | 8:44 pm
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GameStop completed its at-the-market equity offering program, raising $933.4 million. The stock price surged 16% in after-hours trading, indicating investor confidence that the dilution is complete and shares are undervalued.
The completion of the equity offering program removes uncertainty about further dilution, and the raised capital strengthens GameStop's financial position. The after-hours price surge indicates positive investor sentiment.
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