GameStop Corp (NYSE:GME) has successfully concluded an “at-the-market” equity offering, raising approximately $2.14 billion. However, the funding source for this significant transaction has raised eyebrows, with a prominent wealth CEO publicly expressing concerns.
What Happened: The video game retailer announced the completion of its share sale on Tuesday. This development comes shortly after the return of meme stock influencer Keith Gill, also known as “Roaring Kitty,” who played a key role in the recent surge of GameStop stock.
Ross Gerber, CEO of Gerber Kawasaki Wealth, took to social media to voice his concerns about the share sale. He questioned the source of the $250 million that Gill used to invest in GameStop, suggesting that this funding may have saved GameStop’s CEO, Ryan Cohen.
“Gamestop raises $2.1 bil more dumping 75 mil of shares. Kitty pump, dump. Now Gamestop is basically a $4 bil SPAC losing $200 mil a ...