GameStop (Micromania) Uses Reddit Users To "Empower Its Situation"

GameStop (Micromania) Uses Reddit Users To “Empower Its Situation”

News business GameStop (Micromania) Uses Reddit Users To “Empower Its Situation”

Posted on 04/05/2021 8:05 PM

GameStop, the American company specializing in the distributi on of video games, which owns the Micromania-Zing retail chain, is talking about it again! In fact, the company eventually intends to capitalize on its sudden surge in the stock market by raising up to $ 1 billion.

If you’ve been following the news for the past few months, you may have heard from the Reddit forum about the already famous battle between Wall Street shareholders and budding investors. The latter had struck a historic blow in the world of stock markets in January by multiplying the value of a share in the game store chain GameStop by 17. Even if today everything has more or less normalized again, GameStop ultimately intends to capitalize on this “ideological battle,” as the Financial Times put it, by announcing Monday that it will raise up to $ 1 billion by executing a maximum of 3.5 million new shares.

This new fundraising, this time controlled by the Jefferies investment bank, is ten times what the StoreStop retail chain expected last December. The goal of this new fundraiser? Accelerate the transition from GameStop to e-commerce and empower the situation.

We also learn that the company has regained its popularity with gamers in the past few months, with sales up 11% over the past nine weeks and up 18% in March over the same period last year.