News business GameStop (Micromania) takes advantage of Reddit users to “strengthen its situation”
GameStop, the American company specializing in the distribution of video games which owns the Micromania-Zing chain of stores, is once again talking about it! Indeed, the company finally intends to take advantage of its sudden rise on the stock market by raising up to $ 1 billion.
If you’ve been following the news in recent months, you may have heard of the already famous fight between Wall Street shareholders and budding investors from the Reddit forum. During January, they had achieved a historic blow in the world of the stock market by multiplying by 17 the price of the value of a share of the game store chain GameStop. Today, even if everything has more or less returned to normal, GameStop finally intends to take advantage of this “ideological battle”, an expression used by the Financial Times, by announcing on Monday that it wants to raise up to $ 1 billion by carrying out a maximum of 3.5 million new shares.
This new fundraising, this time, controlled by the investment bank Jefferies, is ten times greater than that expected by the chain of stores GameStop last December. The objective of this new fundraising? Accelerate the transformation of GameStop towards e-commerce and strengthen its situation.
We also learn that the company has gained notoriety with gamers again in recent months as sales increased 11% in the last nine weeks and 18% in March compared to last year on the same period.