On Tuesday, GameStop (GME) stock rallied more than 25% on news that the videogame retailer and meme stock had finished selling nearly $1 billion worth of new shares in an at-the-market secondary sale.
GameStop ends share sale that began on May 17. GameStop sold all 45 million shares for $933 million.
reaches 17,000 for first time in history. Market analysts are growing bullish despite stubborn Fed. On Tuesday, GameStop stock rallied more than 25% on news that the videogame retailer and meme stock had finished selling nearly $1 billion worth of new shares in an at-the-market secondary sale. When meme stock godfather Keith Gill woke from hibernation earlier this month to post a meme of a man leaning forward in his chair, chaos broke out immediately.
, up 0.6%, is leading a mixed market on Tuesday with Nvidia and other tech stocks trending higher. Alphabet’s rumored takeover of HubSpot sent both stocks higher after CNBC’s David Faber said he has been told it’s an all-stock deal. The tech-infused reached the 17,000 level for the first time ever. GameStop stock news GameStop sold 45 million shares of GME common stock for about $933.4 million. This means the average share was sold at $20.74. Since GME shares closed at $19.00 last Friday, they had a lot to do to reach this level. “GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments,” the Texas-based company said in a statement.
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