GameStop stock drops 22% due to $1.3 billion debt for Bitcoin purchase

From Stocktwits: 2025-03-27 23:16:00

GameStop Corp (GME) shares plunged 22% after announcing a $1.3 billion convertible bond issuance to buy Bitcoin. The stock closed at $22.09, its second-lowest level this year, sparking retail investor interest. Despite an initial 11.7% increase on Wednesday, shares plummeted following the debt raise announcement. GameStop aims to purchase Bitcoin as a treasury asset, similar to other public companies. Concerns about potential share dilution and selling Bitcoin to meet debt obligations have been raised. GME stock is down 29.5% year to date, with retail sentiment on Stocktwits extremely bullish. Email newsroom[at]stocktwits[dot]com for updates.



Read more at Stocktwits: Retail Enthusiasm For GameStop Holds Steady Even As Stock Loses One-Fifth Value On Plan To Buy Bitcoin With Debt