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GME drops 14% as GameStop announces plans to sell up to 3 5M shares

News GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally. The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total global sales increased nearly 11% for the nine-week period ending April 3, 2021. GameStop noted that its common stock will be offered through American multinational independent investment bank Jefferies Group, which will serve as the sales agent. The firm said that Jefferies may sell common stocks by “any lawful method deemed to be” an ATM offering as defined by rule Rule 415(a)(4) of the Securities Act. “Sales may be made at market prices prevailing at the time of a sale or at prices related to prev

Discovery Communications, Inc (NASDAQ:DISCA), Discovery Communications, Inc (NASDAQ:DISCB) - What Happened With Discovery B Stock Today?

Share: Discovery, Inc’s (NASDAQ: DISCA) (NASDAQ: DISCB) series B shares spiked nearly 83% in the regular session Wednesday. What Happened: The cause of the soaring could be a short squeeze involving arbitrage traders or a so-called “arb squeeze” according to Dennis Dick, head of markets structure at Bright Trading, Bloomberg reported. The thinly traded Class B shares  nearly 94% controlled by television tycoon John Malone saw volumes spike by nearly 39,445% in Wednesday’s trading. The latest move in the shares could be an indicator that arbitrage traders were trading the Class B shares after not being able to borrow against Class A shares, according to Dick, reported Bloomberg.

Gamestop Corporation (NYSE:GME), (AMC) - GameStop, WallStreetBets Inspire Opening Of Tip-Trading Bar In Tokyo And Young Investors Are Flocking

Share: A bar inspired by Reddit community WallStreetBets has opened its doors in Tokyo and emerged as a place for investors to talk about stocks, Bloomberg reported Wednesday. What Happened: The tavern dubbed Stock Pickers reportedly came into being in March after a successful crowdfunding endeavor raised more than $50,000. The establishment is the idea of Satoshi Uehara, a pseudonym used by a popular investing influencer on Twitter. Young investors are flocking up to meet Uehara but experienced traders are also turning up to offer advice to rookie traders, said Riki Yamauchi, the bar’s public relations manager. Beverages at the bar include “Margin Call”, “Lehman Shock” and “Abenomics.”

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