GameStop raises around $933 million – 05/28/2024 at 2:22 p.m.

GameStop raises around $933 million – 05/28/2024 at 2:22 p.m.
GameStop raises around $933 million – 05/28/2024 at 2:22 p.m.

(AOF) – The action of American video game distributor GameStop is expected to rise sharply as the group raised $933.4 million thanks to the sale of 45 million new shares as part of an offering to the walk. GameStop intends to use the net proceeds for its general purposes, which may include acquisitions and investments. GameStop stock jumped nearly 70% in a month after the reappearance on social networks of Keith Gill, known by the pseudonym Roaring Kitty.

Keith Gill rose to fame in 2021 after posting a series of videos online in support of GameStop, causing the stock to surge.

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Learn more about the Video Games sector

The launch by Amazon of its “cloud gaming” offer in France highlights the diversity of approaches in this market segment.

If this niche currently represents only 1% to 4% of the total video games market, its activity should be multiplied by 3 or 4 in the three years to come. Focusing on this sector, Amazon has deployed its associated service in France, after targeting the United States, Canada, Germany and the United Kingdom. In order to make its Prime offer, at the heart of its economic model, more attractive, Amazon will make this service, called “Luna”, accessible to subscribers. However, the lack of depth of the catalog could penalize the development of this offer. This was the case for Google, which withdrew from this niche last year, after three years of operation.

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