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(Reuters) - GameStop Corp shares fell 12% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it takes advantage of a dizzying rally in its shares this year on the back of a Reddit-driven retail trading frenzy.
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed GameStop logo in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The company said it would sell up to 3.5 million shares and use the proceeds to speed up the shift in its business model to e-commerce in an overhaul being led by top shareholder and board member Ryan Cohen.
GameStop Corp fell 13% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it tries to make the best of the 900% surge…
-GameStop Corp shares fell 12% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it takes advantage of a dizzying rally in its shares this year on the back. | April 5, 2021
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