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2021-04-27

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GameStop raises $551 mln to accelerate e-commerce push, shares jump

GameStop Corp has raised $551 million through an equity offering as the videogame retailer accelerat

GameStop raises $551 mln to accelerate e-commerce push, shares jump

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The company's stock has gained more than 850% this year thanks to a push by retail investors to drive up prices of heavily shorted stocks.GameStop said earlier this month George Sherman will step down as its chief executive officer in the biggest management shakeup at the retailer, giving top shareholder Ryan Cohen more control.Cohen, whose RC Ventures owns nearly 13% of GameStop, is leading the company's transformation into an e-commerce firm that can compete with big retailers such as Walmart Inc, as well as technology companies like Microsoft Corp and Sony Corp.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1240,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}