GameStop Analyst Lowers Price Target After 'Rambling Presentation By Roaring Kitty': Does Video Game Company Have 'Enough Runway To Appease Its Cult-Like Shareholders'?

Benzinga · Jun 13 01:40

Shares of video game retailerGameStop Corporation(NYSE:GME) have traded higher in recent weeks on optimism from the return ofRoaring Kitty(akaKeith Gill) and several share offerings raising cash for the company.

One analyst shared his take on the latest events and recent share offering.

What Happened:Over the past 30 days, GameStop completed two at-the-market offerings, selling batches of 45 million and 75 million shares.

The most recent sale of 75 million shares raised $2.137 billion, which translated to an average share price of $28.50.

WedbushanalystMichael Pachtercriticizes the sale price in a recent investor note.

"Given that...

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GameStop Analyst Lowers Price Target After 'Rambling Presentation By Roaring Kitty': Does Video Game Company Have 'Enough Runway To Appease Its Cult-Like Shareholders'?

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