Meme stock GameStop saw its share sink by more than 18% Thursday following plans to engage a $1.75 convertible senior notes offering, according to a filing.
“GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions” the company said.
It’s unclear what the proceeds might be, reports suggest the company could use the funds to buy more bitcoin, according to CNBC.
On May 28, 2025 the company disclosed it purchased 4,710 Bitcoin.
Read the full article here
