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Why doesn't gamestop just sell back a ton of stock? They repurchased >100 Million shares in 2019 for dirt cheap. I saw the news about the share selloff, but a p
by kart23 6y ago
Why doesn't gamestop just sell back a ton of stock? They repurchased >100 Million shares in 2019 for dirt cheap. I saw the news about the share selloff, but a paltry 3.5M shares isn't what I was expecting, and thats part of the reason I was extremely skeptical about GME, why wouldn't the company simply sell directly to the shorts so that they could cover?
https://ycharts.com/companies/GME/stock_buyback https://ycharts.com/companies/GME/stock_buyback
- mvanaltvorst 6y agoNot screwing over ~9M wallstreetbets users, possibly resulting in a short squeeze, nets you millions of loyal customers for life. On top of that, the whole reason the stock is currently priced so high is the lack of available shares. Release slightly too much new shares and stock prices will plummet. It's not a linear relationship.
- kart23 6y agoWell, I guess you're a lot more optimistic than me. I always assume that big companies don't give a shit about their customers and will always screw them over if there is some benefit in doing so.