Jim Cramer: 'GameStop Won,' Bears Are Going To Retreat As Ryan Cohen Turns Stock Into Pseudo-SPAC, Embarks On 'Chewy 2'
Portfolio Pulse from Adam Eckert
Jim Cramer has declared victory for GameStop (NYSE:GME) after the company completed its at-the-market equity offering, raising approximately $2.137 billion. Cramer believes this cash position will allow CEO Ryan Cohen to transform the company, potentially turning it into a pseudo-SPAC. Short seller Citron Research has closed its short position in GameStop, citing the company's strong cash reserves.
June 12, 2024 | 6:26 pm
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GameStop completed its at-the-market equity offering, raising $2.137 billion. Jim Cramer believes this cash position will allow CEO Ryan Cohen to transform the company, potentially turning it into a pseudo-SPAC. Short seller Citron Research has closed its short position in GameStop, citing the company's strong cash reserves.
The completion of the equity offering significantly strengthens GameStop's cash position, providing CEO Ryan Cohen with the resources to potentially transform the company. This positive development is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100