GameStop, Soon to Be Debt-Free, Adds $551 Million to Coffers

Motley Fool2021-04-27

GameStop (NYSE:GME) is clearing the decks in preparation for its transformation into an online-oriented video game supercenter. Having recently announced it will retire all of its outstanding debt at ...

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Miisery
2021-04-29
Miisery
Its debt free and juet raised 551 m, what more news do u need to be bullish?

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The amount of the gross proceeds reported suggests an average purchase price of around $157.43 per share.\nAlmost all top executives of the company, including CEO George Sherman, who will be leaving at the end of July, have either resigned or been ousted. Also, almost the entire board of directors announced it wouldn't stand for reelection at the company's annual shareholder's meeting.\nThat gives activist investor Ryan Cohen, who was recently appointed board chairman, complete control of the company and where it heads in the future.\nCohen has said he wants GameStop to keep only its most profitable retail locations as it becomes a consumer-focused e-commerce company that is the Amazon of video games. 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