GameStop raises more than $1 billion in latest share offer


FILE PHOTO: A GameStop store is seen in the Jackson Heights neighborhood of New York City, New York, U.S. January 27, 2021. REUTERS/Nick Zieminski

(Reuters) -Videogame retailer GameStop Corp said on Tuesday it had raised about $1.13 billion in its latest share offering, cashing in further on a social-media-driven surge in its stock price.

The company, whose shares are up more than 960% this year, was the spark in January for a battle casting hedge fund short-sellers against a pack of small-time investors organizing online.

Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Robinhood set to report highest quarterly revenue since meme stock frenzy
Apple unveils new AI-focused chip in upgraded iPad Pro
US consumer watchdog fines Chime $3.25 million for delaying refunds
OpenAI to launch tool to detect images created by DALL-E 3
Investopedia-owner Dotdash Meredith signs content license deal with OpenAI
GlobalFoundries forecasts Q2 revenue, profit above estimates on chip market recovery
Tesla Autopilot probe escalates with US regulator’s data demands
How the EU transformed tech
Nigeria sets dangerous precedent by detaining Binance execs, CEO says
Online retailer Zalando returns to growth thanks to premium brands

Others Also Read