GameStop Shares Jump After the Reddit Favorite Raises $551 Million in Stock Sales

GameStop sold 3.5 million additional shares, raising $551 million to speed up the company's e-commerce transformation. Shares are up nearly 800% this year. GameStop announced the "at-the-market" stock offering at the beginning of April, which was viewed as a way to capitalize on its recent head-turning rally that made Wall Street history.