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GameStop jumps 9% after the original meme stock cashes in again with $1 billion share sale

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A GameStop store is pictured in New York, January 29, 2021.

Carlo AllegriI | Reuters

GameStop shares climbed after the videogame retailer said it sold five million additional shares, raising $1.13 billion in capital to accelerate growth.

The original Reddit favorite meme stock jumped 9% in premarket trading on Tuesday after the company announced the completion of its at-the-market equity offering program that was initially disclosed on June 9. GameStop said it will use the proceeds for general corporate purposes as well as for investing in growth initiatives and maintaining a strong balance sheet.

This is the second stock sale that GameStop has conducted since the company became a star on…



Source cnbc.com

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