Hottest seller at GameStop is its own stock, $1B raised

GameStop raised more than $1 billion in its latest stock sale, capitalizing on a newly arrived and fervent army of online investors. The Grapevine, Texas-based video game retailer has taken center stage among a handful of companies that have come to be known this year as meme stocks. Shares of GameStop are up more than 1,000% this year. Another meme stock, the movie chain AMC Entertainment, is up 2,300% this year. It was the second cash haul for GameStop this year during the run-up in its stock price. The retailer is taking full advantage its surging stock price to raise desperately needed cash.