GameStop announced plans for a private offering of $1.3 billion in convertible senior notes, aiming to use the proceeds for general corporate purposes, including to invest in Bitcoin. Shares of the videogame retailer and meme stock fell 18.

GameStop just threw another curveballand investors are eating it up. Shares jumped nearly 15% at 12.05pm today, after the company announced it's adding bitcoin to its treasury res

The sell-off might have to do with the convertible note pricing, while some speculated that it's a sign of investors' disapproval of the bitcoin acquisition plans.

The latest sell-off came after the video game chain announced plans to $1.3 billion through the sale of convertible senior notes to purchase bitcoin.

GameStop's Q4 2024 shows profit gains despite revenue drops. Find out why GME stock profitability, valuation, and strategic shifts still raise concerns.

Shares of GameStop fell more than 15% on Thursday after the company's plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business.

GameStop shares tumbled in intraday trading Thursday, a day after the video game retailer said it was planning to issue $1.3 billion in convertible bonds for general corporate purposes, including buying Bitcoin.