Home » GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 9% premarket
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GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 9% premarket

U.S. stock futures turn around and now point to opening gains

GameStop Corp.
GME,
-6.29%
said Tuesday it has completed an at-the-market equity offering after issuing 5 million shares to raise about $1.126 billion. The videogame retailer and leading meme stock said it will use the proceeds for the catch-all general corporate purposes and for growth initiatives, while maintaining a healthy balance sheet. The stock jumped 9% premarket and has gained 964% in the year to date, spurred on by Reddit subgroup WallStreetBets, who are betting the company can restore its business under new leadership. The S&P 500
SPX,
+1.40%
has gained 12.5% in the same period.

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Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

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