India, June 12 -- Shares of GameStop Corp. plunged around 11 percent in the extended trading on Wednesday and are currently trading 13 percent lower in the pre-market activity on the NYSE, after the company announced plan to raise $1.75 billion again in private offering, probably for Bitcoin purchase.
GameStop's shares had declined sharply in March after the firm announced a $1.3 billion private offering mainly with the intention to buy Bitcoin, after its Board unanimously approved an update to its investment policy to add Bitcoin as a treasury reserve asset.
In its latest statement, the video game, consumer electronics, and gaming merchandise retailer said it intends to offer $1.75 billion of 0.00 percent Convertible Senior Notes due 203...