GameStop adds $800+ million in fresh capital

NYSE:GME   GameStop
At one point this week, GameStop was up some 265% from Monday to Wednesday. That's 48 hours of trading, up 265%, and on rather large sums of volume at a $10+ billion market cap. This is real money, fast money and that's why it's hard to ignore such price action.

While many traders made and lost money on this hype trade, there is one group that played it brilliantly: GameStop itself.

Once the dust had settled, GameStop announced a new shelf offering to sell some its share to add cash to its balance sheet. How much cash? They now have the right to sell up to 45 million shares and at $20 per share, that's $800,000,000 in new capital to shore up its balance sheet.

$800 million.

If the shares go back on the move, that number could easy go back above $1 billion.

So who won after the frenzy was over? GameStop.

Their balance sheet is about to get that much stronger with the latest cash infusion.

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