A company called Blueshore Global Equity has today acquired 29m GAME Group shares, giving it an 8.35 per cent stake in the retailer and limited voting rights.
Blueshore, a global equity fund based in New Jersey, was founded in 2006 by Harsha Gowda. It specialises in equity and pooled investment funds.
As a result of the share purchase GAME's stock has today enjoyed a minor bounce, at one point climbing as high as 1.53p. It is currently trading at 1.37p – a jump of nearly 20 per cent.
Over 107m shares have been traded in total today, far in excess of the 16m three-month average.