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GameStop shares plummet 20% as the video game retailer announces new capital raise after first Bitcoin purchase


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Published in Stocks and Investing on by Fortune   Print publication without navigation

GameStop purchased $500 million worth of Bitcoin last month.

GameStop shares experienced a significant decline following the company's announcement of a second debt raise within a month, aimed at bolstering its financial position amidst ongoing challenges in the retail sector. The move, which involved issuing $3 billion in senior unsecured notes, led to a sharp drop in stock value as investors expressed concerns over the company's increasing debt load and its ability to navigate the competitive landscape. This development comes at a time when GameStop has been struggling to adapt to the shift towards online shopping and has faced difficulties in maintaining profitability, prompting analysts to question the long-term viability of its business model.

Read the Full Fortune Article at:
[ https://fortune.com/crypto/2025/06/12/gamestop-shares-plummet-after-second-debt-raise-announcement/ ]

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