GameStop Surges 26% in Premarket Trading as Stock Sale Raises Over $900 Million

GameStop shares rose as much as 26% in premarket trading on Tuesday after the company announced it had completed a stock sale of more than $900 million. On Friday, GameStop said it had sold around 45 million shares of common stock in an "at-the-market" offering, meaning the shares were sold at prevailing market prices. GameStop did not disclose the price at which the shares were sold. Shares had rallied in mid-May after the social media account Roaring Kitty, which was behind 2021's meme stock frenzy, posted online again for the first time since then.