Invesitng.com — Gamestop rose in after-hours trading Friday after the video game retailer said it raised $933 million from its previously announced 45 million share offering, boosting its finances.
GameStop Corp (NYSE:) rose more than 14% in after-hours trading on Friday.
The company said it expects to use the funds from the sale for “general corporate purposes, which may include acquisitions and investments.”
The video game retailer’s shares are still up 14% year to date, despite a sharp decline from the recent peak of $48.75. The stock surge earlier this month came after Keith Gill, also known as “Roaring Kitty,” who sparked the first meme stock rally in January 2021, reappeared online.