Shares down 0.5% in volatile premarket trade (Il Sole 24 Ore Radiocor) - New York, 12 Jun - Shares in GameStop were lower in premarket trade after the US videogame retailer said it had completed an "at-the-market" equity offering to raise around 2.137 billion dollars in gross proceeds.

"GameStop intends to use the net proceeds from the ATM Program for general corporate purposes, which may include acquisitions and investments," it said in a statement.

Shares in GameStop have see-sawed in recent weeks amid speculation that the man behind a 2021 short squeeze on the meme stock had built a significant position in the retailer.

GameStop surprised the market last week when it unveiled first-quarter results ahead of schedule to announce the equity sale. Its revenue in the period fell 28.7% to 881.8 million dollars.

At 1250 GMT GameStop shares were down 0.5% in volatile trade after ending up more than 22% yesterday.

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(RADIOCOR) 12-06-24 15:11:48 (0462) 5 NNNN