GameStop, whose shares are up more than 960% this year, has
become one of the hottest and most visible "meme stocks"
followed on social media after its meteoric rise in a Reddit-driven
retail short squeeze that caught Wall Street off guard in
January.
The company will use the net proceeds from the offering for
general corporate purposes as well as for investing in growth
initiatives, the company said.
GameStop is trying to pivot to e-commerce and recently named a
chief executive and a finance head to steer it through the
transition.
Shares of the company were up 9.3% in premarket trading on
Tuesday.
(Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
![](column_spacer.png)
|