After having a look at how GME performed during the last three ATM offerings (June '21, May '24, June '24) I expect something like the above chart for the current ATM offering.
After opening at a lower price than the previous closing price, GME tends to pump a bit (something like 5-15%) and forms a pretty linear selling off until the ATM is done.
The recent ATM offering sells 20m shares on the open market, the last ones were: June '21 (20m), May '24 (40m), June '24 (75m). Shares sold were roughly 10-13% of daily trading volume. The recent trading volume was not that high, so I expect the ATM offering to be complete ideally at Friday, realistically ~Tuesday next week. GME should bottom then.
Bullish on macro though.
After opening at a lower price than the previous closing price, GME tends to pump a bit (something like 5-15%) and forms a pretty linear selling off until the ATM is done.
The recent ATM offering sells 20m shares on the open market, the last ones were: June '21 (20m), May '24 (40m), June '24 (75m). Shares sold were roughly 10-13% of daily trading volume. The recent trading volume was not that high, so I expect the ATM offering to be complete ideally at Friday, realistically ~Tuesday next week. GME should bottom then.
Bullish on macro though.
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