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Here's Why GameStop Jumped Tuesday

TheMotleyFool

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Original meme stock GameStop (NYSE: GME) continues to be popular on social media, with many retail traders holding firm to their belief in the company. GameStop shares jumped Tuesday morning after the company announced it has raised additional capital. As of 10:35 a.m. EDT, GameStop shares are up about 10%.

GameStop announced it has completed a previously announced sale of shares that it said has raised over $1.1 billion. The company sold all the 5 million shares for which it was authorized at an average share price of $225.20. GameStop shares closed Monday's session at just over $200 per share.

Source Fool.com

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