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Two months after a market phenomenon took shares of GameStop to the moon, the video game retailer said Monday that it would sell up to 3.5 million of its shares with the price still vastly elevated.Shares of the so-calledmeme stock fell as much as nearly stanley cup 14% on the news, ending the day down 2% at $186.95. The Nasdaq rose 1.7% to $225.49, boosted by an optimistic jobs reporton Good Friday. Gamestop stanley cup said the shares will be sold through an at-the-market offering, which lets a publi stanley cup cly traded company raise capital over time.A bizarre stand-off between hedge funds that had heavily shorted GameStop, betting that the price of shares would fall, and smaller investors who challenged them, sent shares of the beleaguered company soaring early this year. Redditors use GameStop stock earnings to donate to children s hospitals 01:13 Market pundits had urged the company to put more shares on the market as the price of a share, which had hovered around $20 each, spiked close to $500. Such a stock sale would have allowed the company to pay down hefty debts that it had accumulated as a technology shift led gamers to spend money online, rather than in GameStop stores. And two weeks ago, GameStop disclosed in a filing with the Securities and Exchange Commission that it had been Wkae What to watch for during health-care enrollment season at work
NEW YORK --Three large U.S. cities filed a federal lawsuit Tuesday against the Department of Defense, arguing that many service members who are disqualified from gun owner ugg ship weren t reported to the national background check system. New York City, San Francisco and Philadelphia said in court papers that the military s broken system for relaying such information helped enable the massacre of 26 people inside a Texas church last month. This failure on behalf of the Department of Defense has led to the loss of innocent lives by putting guns in the hands of criminals and those who wish to cause immeasurable harm, New York Mayor Bill de Blasio said in a statement. New York City is joining Philadelphia and San Francisco to stand up to the Department of Defense and demand they comply with the law and repair their drastically flawed system. Local law enforcement officials rely on the FBI s database to conduct background checks on gun permit applications and to monitor purchases. It must be up-to-date in order to prevent people from wrongly getting guns, the cities attorneys wrote.Why federal database is failing to bar certain people from gun purchasesPentagon has known of crime reporting lapses for 20 yearsThe lawsuit filed in federal court in Alexandria, Virginia, seeks an injunction and yeezy judicial oversight to ensure ongoing compliance with the Defense Department s obliga ugg tion to submit records. Federal officials didn t immediately respond to The Associated Press request for comm