Search results for GameStop
Industry
With 3 million won, retail investors can buy SpaceX shares; five cautions for overseas stock buyers
SpaceX plans to sharply expand the portion of IPO shares allocated to retail investors, potentially up to 30 percent, Bloomberg reported. Subscriptions will be taken through brokers including Charles Schwab, Fidelity and Robinhood, with Fidelity allowing accounts with at least $2,000. The article flags potential oversubscription, post-listing volatility, restrictions on quick resale, historical limits of first-day gains, the company’s debt and losses, concentrated voting control by Elon Musk, and possible ticker confusion with Virgin Galactic.
Crypto
EBay rejects $56 billion GameStop bid, spotlight returns to bitcoin strategy
EBay rejected GameStop’s $56 billion takeover proposal, bringing renewed market attention to GameStop’s bitcoin exposure. The EBay board declined a $125-per-share offer split evenly between cash and stock, citing doubts about credibility and financing. EBay shares traded well below the offer price. GameStop holds about $368 million in bitcoin exposure via a covered call strategy and moved most of 4,709 BTC to Coinbase Prime, recorded as receivables.
Games & Commerce
GameStop pursues $55.5 billion bid for eBay
Video game retailer GameStop has made a private $55.5 billion takeover offer for e-commerce company eBay, the BBC and other foreign media reported on May 4. GameStop offered $125 per eBay share, $20 above Friday’s New York close, and plans to pay in a mix of cash and stock. The BBC said GameStop secured a $20 billion debt financing commitment from TD Securities. CEO Ryan Cohen said he would appeal directly to shareholders if eBay’s board rejects the proposal.
