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GameStop To Raise $1.3 Billion Funds for Crypto Strategy, Stock Dips by 8%

  • GameStop plans to raise up to $1.3 billion through convertible debt to boost its Bitcoin holdings.
  • The company will issue $1.3 billion in convertible senior notes with a 0% coupon and a five-year maturity.
  • GameStop's stock dipped by 8% in after-hours trading after the announcement of the fundraise.
  • Wall Street remains skeptical about GameStop's move, unsure if the Bitcoin investment will impact its stock price positively.

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