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GME stock tanked after it disclosed a $1.3 billion convertible note offering to fund Bitcoin purchases amid a strategic pivot.
Wedbush said GameStop’s $1.3 billion debt offering might not get enough investor participation.
Shares fell 22% a day after the company said it would raise $1.3 billion by issuing convertible bonds and use the proceeds to buy the cryptocurrency.
GameStop shares plunged Thursday after the company's plans to sell debt to fund purchases of bitcoin raised some questions on Wall Street
Why GameStop (GME) Shares Are Getting Obliterated Today
GameStop isn't out of the weeds but may have signaled the game-changing move that will ensure its long-term survival. Analysts aren't impressed.
Wall Street ended sharply lower on Wednesday, weighed down by tech and auto stocks as uncertainty over impending U.S. tariffs unsettled investors. A report suggesting President Donald Trump may announce...
nvestors, who expect the Bitcoin reserves to link GameStop stock to the crypto asset's price and potentially boost shares, pushed GME shares 12% higher. However, the rally did not hold.
GameStop GME shares popped +11% in today’s trading session as the world’s largest video game retailer was able to crush its Q4 earnings expectations after-market hours on Tuesday.Fueling the rally,...