Why GameStop Stock Is Falling Today
Shares of GameStop (NYSE: GME) were down 4% in midday trading Friday on what seems to be recurring volatility for the meme-stock poster child.
Earlier this week, the video game retailer announced it had raised $1.1 billion by selling 5 million shares at an average price of around $225. As it tries to transition to a business model more focused on e-commerce, it has used the support of retail investors who are taking on hedge funds that short its stock to build up a financial arsenal.
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Source Fool.com
