GameStop Stock Gains After Completing $1.1 Billion Share Sale. Here's Why. - Barron's

GameStop stock jumped on Tuesday after the videogame retailer said it had raised more than $1 billion in a stock sale. It plans to put the cash toward its growth plans and for shoring up its balance sheet. It’s the second time GameStop has sold shares since the stock became a favorite of traders on social media and saw its price increase more than tenfold.

GameStop stock (ticker: GME) was up about 4.6% on Tuesday afternoon, to around $209.50. That follows declines of 6.3% on Monday and 4.4% on Friday. The S&P 500 was up 0.3%,...

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