GameStation completed an additional sale and raised more than 900 million US dollars. GameStop submitted regulatory documents to the US SEC on Friday, announcing the issuance of 45 million additional common shares by “issuing at market price” (commonly known as ATM issuance). This follows in the footsteps of AMC's increase in distribution last Wednesday. The related increase brought the sharp rise in these popular retail group stocks to an abrupt halt. In terms of how the market reacted to GME after the Friday market this week, the boots have landed.
After the US stock market on Friday,$GameStop (GME.US)$The operation to increase issuance at market price (commonly known as ATM issuance) was completed, raising a total of about US$933.4 million. The stock price surged 22% after the market. Since then, the increase has narrowed somewhat, and finally closed up 13% after the market.$AMC Entertainment (AMC.US)$After the market, it rose more than 8% at one point, and eventually rose more than 1%.
Last week, there was a resurgence of retail group stocks. On the first two trading days of last week, GME and AMC stock prices both surged by three digits, but from Wednesday to Friday, GME plummeted for three consecutive days. Traders sold their positions. By the close of last Friday, GME had fallen 65% from the intraday high of last Tuesday, and AMC reached 63%. Despite this, GME still had a 27% increase over the last week, and AMC reached 51%.
GameStop submitted regulatory documents to the US SEC on Friday, announcing the issuance of 45 million additional common shares by “issuing at market price” (commonly known as ATM issuance). If the full issuance is completed, the company's total share capital will rise to 351 million shares. This follows in the footsteps of AMC's increase in distribution last Wednesday. The related increase brought the sharp rise in these popular retail group stocks to an abrupt halt.
This week, the performance of retail group stocks was divided. GME continued the relatively sluggish trend of the latter half of last week, shrinking and adjusting. The cumulative decline for the whole week was over 14%, while AMC's stock price increased by 10% throughout the week.
Judging from the market's reaction to the increase in GME sales after the Friday market this week, there is a slight trend of falling into place.
Next, investors pay attention to GME's earnings report. According to the forecast released last week, its net sales for the first quarter were US$872-892 million, down from US$1,237 million in the same period last year, but losses have narrowed. Net losses ranged between US$27 million and US$37 million, compared to US$50.5 million for the same period last year.
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