GameStop stock sinks to lowest level since August 2024

GameStop stock sinks to lowest level since August 2024

Ines Ferré · Senior Business Reporter

Mon, August 3, 2026 at 5:44 PM GMT+3 1 min read

What happened: GameStop (GME) shares fell about 11% on Monday, touching as low as $19.05 per share, their lowest intraday levels since August 2024, according to Yahoo Finance's AlphaSpace data.

What's behind the move: The move comes after the video game retailer announced plans for a private exchange of $1.4 billion in convertible notes for common stock as a way to pay down its debt without using cash. Investors perceived the move as diluting existing shareholders.

What else you need to know: GameStop shares are down 3% year-to-date.

The stock is down roughly 27% since early May, around the time the company made an uncollected offer to buy (EBAY).

The online marketplace eBay (EBAY) rejected the video game retailer's $56 billion bid. Questions about how GameStop would pay for the deal sent GameStop shares lower.

Investors speculated that the company would need to take on debt and dilute shares by selling stock to raise the funds.

The unsolicited bid that month prompted investor Michael Burry to sell his entire position in GameStop.

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.

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