Invesitng.com -- Gamestop surged in afterhours trading Friday after the video game retailer said it has raised $933 million from its previously announced 45 million share offering, boosting its finances.
GameStop Corp (NYSE:GME) jumped more than 14% in afterhours 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."
Shares of the video game retailer are still up 14% year to date, despite reversing sharply from its recent peak of $48.75. The surge in the stock earlier this month came after Keith Gill, also known as "Roaring Kitty", who was credited with sparking the initial memestock rally in January 2021, made an online reappearance.