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A comment on Suck It, Wall Street. Parent comment

Re:Suck It, Wall Street by perl4ever on Friday January 29, 2021 @01:19AM (#25954634)
GameStop filed in December with the SEC to sell up to $100M in stock at the market, from time to time. Now it seems like a laughably small amount.

I think it is common for public companies to sell stock below market though. If they set a price ahead of time, unlike GameStop in this instance, then the market price will change, right?

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Re:Suck It, Wall Street by BobbyJo on Friday January 29, 2021 @11:20AM (#25958932)
The market price will change yes, but companies have legal fiduciary duty to maximize shareholder value. Purposefully selling shares below value to non-shareholders is obviously a violation of that duty.
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