11/26/2023 0 Comments Gamestop dirt rally![]() Yet GameStop never sold shares, the sources said, despite being egged on by many Wall Street pundits to do so. At that point, GameStop could have raised hundreds of millions of dollars through a stock sale to pay down its debt pile, which totaled $216 million net of cash as of the end of October, and fund its transformation into a digital gaming service, as sales at its mall-based stores dwindle. GameStop's market value soared from $1.4 billion on Jan. While many heavily shorted stocks, from movie theater operator AMC Entertainment Holdings Inc to headphone maker Koss Corp, also scored big rallies, "Gamestonk," as it was nicknamed by many online, including Tesla Inc Chief Executive Elon Musk, became synonymous with the wave of trading speculation.
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