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GameStop filed in December with the SEC to sell up to $100M in stock at the market, from time to time. Now it seems like a laughably small amount. I think it i
by perl4ever 6y ago
GameStop filed in December with the SEC to sell up to $100M in stock at the market, from time to time. Now it seems like a laughably small amount.
I think it is common for public companies to sell stock below market though. If they set a price ahead of time, unlike GameStop in this instance, then the market price will change, right?
- BobbyJo 6y agoThe market price will change yes, but companies have legal fiduciary duty to maximize shareholder value. Purposefully selling shares below value to non-shareholders is obviously a violation of that duty.