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• GME stock closed down more than 12% after it announced that it would exchange about $1.4 billion of its outstanding convertible senior notes for shares of its Class A common stock in a private transaction.
• SPCX stock recovered from lows to close up 5.68% ahead of its first quarterly print following its historic public debut last month. 
• HTZ stock lost more than 3% at close as the rental car company continues to battle challenges with rising costs and debt amid industry-wide margin challenges.

Shares of GameStop Corp. (GME), SpaceX (SPCX), and Hertz Global Holdings Inc. (HTZ) plunged to fresh 52-week lows on Monday amid company-specific announcements, earnings expectations, and continued debt woes. 

GME stock closed down more than 12% after it announced that it would exchange about $1.4 billion of its outstanding convertible senior notes for shares of its Class A common stock in a private transaction.

SPCX stock recovered from lows to close up 5.68% ahead of its first quarterly print following its historic public debut last month. HTZ stock lost more than 3% at close as the rental car company continues to battle challenges with rising costs and debt amid industry-wide margin challenges.

GameStop’s Debt Exchange Sparks Dilution Concerns

GME stock fell to an annual low of $18.54 on Monday, about 28% down from its highest levels this year, after it announced a debt exchange worth $1.4 billion for equity, stoking concerns about share dilution. 

The company said that some holders of convertible senior notes would exchange about $400 million in notes due 2030 and $1 billion in notes due 2032 for Class A common stock. GameStop clarified that it will not receive any cash from the issuance. 

While the exchange will give GameStop quick access to capital and reduce its outstanding long-term debt, it will increase the outstanding share count.

“These activities could increase or decrease the market price of the common stock or the exchange notes, the effect of which may be material,” the company said in a statement.

GME stock’s retail sentiment improved from ‘bearish’ to ‘bullish’ despite the decline in stock prices. While some retail investors expressed dilution concerns, others noted that a decline in debt would make the company stronger and provide liquidity to buy a company like eBay or an alternatively great business move. 

GME stock is down more than 7% this year. 

SpaceX Stumbles Ahead Of Q2 Earnings 

Shares of SPCX dipped to a low of $104.83, losing more than 43% from its highs, as investors contemplate its high valuation amid a cooling from its initial hype. 

Elon Musk’s space company is slated to report its second-quarter (Q2) results on Tuesday, the first after its public debut. Analysts expect the company to post revenue of $6.82 billion and a loss per share of $0.23. 

Meanwhile, RBC Capital Markets reiterated its 'Outperform' rating and $225 price target on the company, implying an upside of more than 100%. The analyst said that the recent pullback in share price has created an attractive buying opportunity, arguing that investors are overly focused on near-term concerns while overlooking the company's strong fundamentals and business momentum. 

Morgan Stanley also recently reaffirmed its 'Overweight' rating and $300 price target on SpaceX last month, saying the company remains uniquely positioned across launch, satellite connectivity, and AI. 

On Stocktwits, retail sentiment around SPCX was ‘bullish’ amid ‘normal’ message volumes. SPCX stock is down nearly 29% from its debut. 

Hertz Weighed Down By Rising Vehicle Costs And Mounting Debt

HTZ stock fell to a fresh annual low of $1.48 on Monday, clocking five consecutive sessions in the red as it continues to struggle with pricing pressures and debt issues. The stock has declined nearly 80% from its peak this year. 

Mounting pressure from vehicle depreciation expenses, weak rental pricing, and fluctuating demand has weighed sharply on Hertz Global. Meanwhile, its removal from the S&P SmallCap 600 index has further dampened investor confidence in the company. 

Hertz is slated to report its Q2 earnings on Thursday, with analysts expecting $2.2 billion in revenue and a loss of $0.24 per share. Retail sentiment around the stock remained ‘bullish’ at the time of writing. 

HTZ stock is down more than 70% in 2026. 

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