GME price pattern for recent ATM offering based on prior ATMs
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.