"has sold millions of dollars of new stock"......?Not even accurate. The company has raised roughly $1.6 billion. They can't make it seem like too good of news as the hedge funds that are short on GME have partial ownership of the corporation that owns the media group.
GameStop to join S&P MidCap 400 index next week
July 27 (Reuters) - S&P Dow Jones Indices said on Tuesday GameStop, one of the hottest and most visi
They hired a mobile gaming guy. Nothing to do with GameStop. Just an excuse to naked short and drop the price so the short hedge funds can try to get more options ITM before they expire tomorrow.
The only shares being sold are either shorts or from the ATM offering. The on balance volume keep increasing. No one is selling. Ryan Cohen announced he is not going to be open with his strategy. This article is meant to try and scare people away from investing in GameStop. It's the ultimate hedge against the coming market crash.
If the company sells it’s 5million shares for an average of $250, it will have $24/share in cash. This is a ridicuous article with an agenda being pushed to try and drive people away from an amazing turaround story because a lot of hedge funds are short and trapped.
Nothing but good news from the company, the price will recover shortly, also it’s up a great deal over the last month.
Why GameStop Is Trading Lower Today
GameStop Corp (NYSE: GME) is trading lower Thursday morning after the company announced its first-quarter financial results, a share offering — and SEC probe.