GameStop Stock Tumbles After The Bell: What’s Going On?

GameStop Corp (NYSE:GME) shares are trading lower in Wednesday’s after-hours session after the company announced a proposed private offering.
What Happened: After market close on Wednesday, GameStop said it intends to offer $1.3 billion worth of its 0.00% convertible senior notes due 2030 in a private offering to institutional investors. The company plans to grant the initial purchasers 13 days to purchase up to an additional $200 million.
Taking a page out of Strategy’s playbook, GameStop said it intends to use the net proceeds from the offering to buy Bitcoin (CRYPTO: BTC).
The news comes a day after GameStop reported …Full story available on Benzinga.com

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