All articles tagged with #share sales
GameStop's stock surged 14% after the company raised $933 million through share sales, capitalizing on a recent rally driven by retail trading enthusiasm. Despite the boost, the stock has seen significant volatility, losing 70% of its value since mid-May. The funds will be used for general corporate purposes, including potential acquisitions and investments.
The CEO of Cruise, General Motors' self-driving car unit, has apologized for the company's recent situation following an accident that led to the suspension of its self-driving vehicle operations. In an email to staff, CEO Kyle Vogt acknowledged the need to double down on safety, transparency, and community engagement, and stated that the company's approach to working with regulators, press, and the public must improve. Additionally, Cruise will make a new tender offer to allow employees to sell shares, addressing concerns over tax obligations. The company had previously cancelled an offer to sell shares, which sparked backlash from employees. Cruise has suspended all robot taxi services in the United States and is conducting a full safety review of its vehicles and self-drive technology.