American Campus Communities Inc
Change company Symbol lookup
Select an option...
ACC American Campus Communities Inc
HPGN HypGen Inc
IX Orix Corp
WHR Whirlpool Corp
PG Procter & Gamble Co
PWJAX PGIM Jennison International Opportunities Fund- Class A
MBWM Mercantile Bank Corp
MEIUF Meitu Inc
HD Home Depot Inc
MRLN Marlin Business Services Corp
Go

Real Estate : Equity Real Estate Investment Trusts (REITs) | Small Cap Blend
Company profile

American Campus Communities, Inc. is a self-managed and self-administered equity real estate investment trust (REIT). The Company's segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. It is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. The Wholly-Owned Properties segment consists of off-campus properties, which are located in close proximity to the school campus. The On-Campus Participating Properties segment includes on-campus properties that are operated under long-term ground/facility leases with three university systems. The Development Services segment consists of development and construction management services that it provides through one of its taxable REIT subsidiaries for third-party owners. The Property Management Services segment includes revenues generated from third-party management contracts.

Closing Price
$44.88
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
0

10-day average volume:
756,194
0

GameStop: The incredible unshortable stock

5:55 pm ET April 5, 2021 (MarketWatch)
Print

By Thornton McEnery

'It's the definition of insanity,' Wedbush analyst says. 'The shorts keep doing the same thing over and over and expecting a different result'

GameStop (GME) might be the unshortable stock.

Shares in the Texas-based videogame retailer dropped by more than 10% (https://www.marketwatch.com/story/gamestop-stock-dives-after-filing-to-sell-up-to-3-5-million-shares-11617620560)at the open Monday on news that the company announced it has the option to sell up 3.5 million shares of its common stock in the near future. But as has been the case with the OG meme stock, GameStop's legion of devoted fans on social media and no-fee trading platforms started buying as the price fell, pushing shares briefly into the green at midday before closing the day down just 2.4%.

The company's decision to use new equity to raise capital was an expected one, but the possibility that GameStop shares would be diluted -- after trading for weeks well above Wall Street analysts' estimates -- played into the thesis of institutional investors who have been shorting the stock, creating the philosophical war between hedge funds and retail traders that has gripped the stock market for months.

On Monday, retail traders took to Reddit to praise GameStop's newest move even as its stock price plummeted, keying in on the fact that GameStop's filing includes language that it will halt any new stock offering if it raises $1 billion.

Already primed to push the stock back up to January's nosebleed high of nearly $350 a share, Redditors jumped on a new strategy to have their cake and eat it too, without any stock dilution.

"3.5 million shares, with a hard cap of $1 billion total influx in capital," posited one user on Reddit board r/Superstonk. "Meaning if the price is pushed above $285.714/share, then fewer than 3.5 million new shares are released."

"GameStop is going to profit off of greedy hedge funds," posted another.

Shares in GameStop shot up 16% over two hours of trading as this new strategy took hold, with some users posting that the shorting of the early morning merely offered them a discount on the stock.

One Wall Street analyst agreed.

"It's the definition of insanity," said Wedbush's Michael Pachter. "The shorts keep doing the same thing over and over and expecting a different result, and now the [Reddit] guys get it. They're saying 'As long as you'll keep covering, we'll keep buying.'"

Pachter now sees GameStop as the existential battleground between the retail guys and the Street.

"When the shorts abandon this, it's going to start trading on fundamentals," Pachter said of GameStop. "The best-in-class operating retailers make 5% operating profit, which is going to be very hard for GameStop to get to, but if they even just raise $700 million in one small offering, their value has already gone up."

The retail crowd appears to agree.

"I mean, we can just *buy* the 3.5 million shares before the hedge funds get a hold of them," posted one Reddit user on Monday.

-; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

April 05, 2021 17:55 ET (21:55 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2021 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., , and

Copyright © 2021. All rights reserved.