GameStop (NYSE:GME) stock just got its price target cut by Wedbush analysts in response to a recent equity offering from the video game retail business.This saw Wedbush analysts cut the firm’s price target for GME stock from $13.50 per share to $11 per share. That’s a potential 64% downside compared to the stock’s previous closing price.Investors will also note that Webush doesn’t hold a positive rating for GME stock. The firm maintained its “underperform” rating for the shares while cutting its price targe ...

Key TakeawaysGameStop announced it had completed a stock sale that it began just last Friday.The struggling video game retailer said it sold the maximum amount of shares in the offering and brought in $2.14 billion.The speed of the sale may have been helped by meme stock darling "Roaring Kitty," who has recently used social media to discuss his investment in GameStop. GameStop (GME) appears to have gotten a boost from “Roaring Kitty.” The struggling video game retailer and meme stock darling said it has com ...

GameStop raised more than $2 billion after selling 75 million shares, the video game retailer said Tuesday. The sales of the shares stemmed from an at-the-market equity offering program that GameStop announced earlier in the month.‘ROARING KITTY’ COULD NOT SAVE GAMESTOP AS MEME STOCK TANKS "GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments," the retailer said. It marked the second at-the-market equity offering that Ga ...

Well, it looks like Roaring Kitty has taken a 2-0 lead on Citron Research and Andrew Left. Back in 2021, Citron shorted GameStop (NYSE:GME) amid the meme stock craze propelled by Kitty, whose real name is Keith Gill. The short seller ended up taking a 100% loss on his position as GME squeezed higher in historic fashion.Upon Gill’s return in May, Citron resumed its GameStop short, only to close it and then reopen it the following month.“The first time, three-and-a-half-years ago, (GameStop) was a cultural ph ...

Keith Gill, a Reddit user credited with inspiring GameStop's rally, during a YouTube livestream arranged on a laptop at the New York Stock Exchange on June 7, 2024.His call options against GameStop have a strike price of $20 and an expiration date of June 21. Shares of the video game company have gained about 7% so far this week to around $30 a share. If the stock trades above $20 that Friday, which makes his call position in the money, Gill could exercise the options at $20 apiece, allowing him to purchase ...

GameStop Corp. (GME, Financial) is known as a “meme” stock. Who knows what that really means? A realistic look at this loss-making business is that it is now worth about $10 per share – maybe a little more or less.Everything else above this is a speculative gamble on the ability of management to properly invest the cash and turn around the loss-making business.Let's take a realistic look at its value, right now – based on publicly available information – and without all the hype and any speculative assumpti ...

Merchandise lines the shelves of a GameStop store on May 28, 2024 in Miami, Florida.GameStop raised more than $2 billion in a recent stock sale as the video game company took advantage of a revived meme rally sparked by the return of trader Roaring Kitty.The retailer announced Tuesday evening that it completed an at-the-market equity offering, selling the maximum number of 75 million shares to raise proceeds of $2.14 billion. GameStop said it intends to use the money for general corporate purposes, which ma ...

The Reddit community WallStreetBets is synonymous with the meme stock movement. A distinguishing feature of this online community is its members' preference for stocks that have a high short-selling risk. The community's founder, Jaime Rogozinski, has said his goal was to build a community "for people to talk about high-risk trades in an unapologetic way for people to make some short-term money with disposable income." This strategy achieved national prominence in 2021 with the explosive short squeezes on s ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Generally speaking, there are lots of good reasons to consider investing in growth stocks right now. The primary factor is the expectation of rate cuts at some point this year. The European Central Bank just initiated rate cuts that pushed European growth shares higher. The same is bound to happen stateside at some point, which is why growth stocks are appealing.That said, not all growth stocks are created equal. Some growth stocks simply benefit from irrational exuberance that is bound to dissipate. Those ...