GameStop drops after announcing $1.3 bln convertible bond deal to buy bitcoin
ReutersMar 26, 2025 8:22 PM
Shares of GameStop GME.N drop 8.3% to $26 in extended trading as video game retailer seeks capital raise to buy bitcoin BTC=
GME shares on Weds finished up 11.7% at $28.36 after co said it would invest in the world's largest cryptocurrency
After the bell, co says offering privately $1.3 bln 0% 5-yr convertible bonds
Co has ~$12.7 bln market cap, per LSEG data
Through Weds, stock off 9.5% YTD but up >80% over the past 12 months
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