The last time Team Intraday uploaded GameStop news was last month when the retailer offered new shares.
In contrast, this time, GameStop is rumored to want to profit from its stock surge since early 2021 by selling its shares worth £ 720 (RM 4,132,127,988.00), comprising 3.5 million shares.
On Monday, GameStop shares opened slightly lower around 10%. Based on price movements, the retail stock traded at £ 123.34 per unit, in contrast to its value at the start of 2021 where it was then worth £ 12.44 per unit.
Based on the profits received, GameStop wants to accelerate the company's transition to electronic commerce (e-commerce).
The change will be led by GameStop’s largest shareholder, Ryan Cohen.
On Thursday, GameStop shares closed in the regular session when the share price per unit was worth £ 138.09. Based on this record, it is not impossible for this gaming company to be able to generate revenue of up to £ 483.26 million.
GameStop also warned its investors on Monday that participation in the sale of shares could result in significant losses.
In December 2020, GameStop registered with the Securities and Exchange Commission (SEC) to sell its shares worth £ 72.13 million. However, the shares were not sold under the December prospectus.
To date, the firm’s market value stands at over £ 9 billion.
