Shares in GameStop gained in premarket trading on Tuesday after the company announced Friday that it had made $933 million from a stock sale.
Shares in GameStop rallied earlier this month after the social media account behind 2021's meme stock short squeeze posted for the first time since then.
GameStop shares rose 25% in premarket trading Tuesday after the company announced Friday that it had made around $933 million from a stock sale. Shares in the video game retailer were up 25.11% at 6:43 a.m. ET in the U.S. Markets are set to re-open Tuesday after remaining closed on Monday for Memorial Day.
The company did not disclose what price the shares were sold at, but said the transaction was a so-called"at-the-market" offering. This means shares were sold at market price and not a predetermined one.The sale comes after the social media account Roaring Kitty, which was behind the 2021 short squeeze of companies including GameStop, posted online again for the first time since that period.as the stock got caught up in the frenzy, reaching a high of $64.
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