GME Stock Recent News

In 2020, MicroStrategy (now doing business as Strategy) and its co-founder Michael Saylor embarked on a novel concept. They began using the company's capital to buy Bitcoin, the world's largest cryptocurrency.

Video game retailer GameStop's (GME) business has been struggling for years, as more of the gaming market continues to shift to digital downloads. However, the stock was the subject of massive investor attention during the meme stock frenzy of 2020 and 2021, with a renewed spike in interest last year -- during which the company raised quite a bit of capital.

Conflicting investor sentiment, GameStop (GME) and United Natural Foods (UNFI) were able to blast their quarterly earnings expectations this week but have seen their stocks drop over 20% and 15%, respectively.

GME dives over 20% as investors react to Bitcoin buys and declining revenues, despite improved profitability and cost cuts.

GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) (“GameStop”), today announced the pricing of its upsized $2.25 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2032 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). GameStop also granted the initial purchaser of the notes an option to purchase, with.

GameStop Corp (NYSE: GME) opened more than 15% down on Thursday after announcing plans of raising $1.75 billion through a convertible notes offering to potentially expand its BTC holdings.

Shares of GameStop Corp (NYSE:GME) sank 19.5% on Thursday morning after the video game retailer unveiled plans to raise up to $1.75 billion through a private offering of zero-coupon convertible senior notes due 2032. The offering includes an option for initial purchasers to buy an additional $250 million in notes within 13 days of issuance, the company said.

GameStop stock tumbled Thursday on a $1.75 billion offering, potentially for bitcoin purchases. Retailer missed sales views earlier this week.

Shares of the video game retailer GameStop (GME -19.48%) had tanked roughly 19%, as of 10:18 a.m. ET today. The company announced plans to issue $1.75 billion in convertible notes for "general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions.

The videogame retailer is raising $1.75 billion in bonds that can convert to stock.