GameStop shares sunk Thursday after its plan to sell debt in an effort to fund purchases of bitcoin raised some questions on Wall Street. The video game retailer announced a private offering of $1.3 billion in debt.

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

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 said it anticipates closing a "significant number" of additional stores in 2025 and announced plans to invest in bitcoin. Here's what to know.

With its eagerly anticipated move into bitcoin, videogame retailer and original meme-stock name GameStop Corp. is following in the cryptocurrency footsteps of software company and bitcoin play Strategy,

GameStop (GME) plans to close down a “significant number” of stores as the struggling video game retailer switches focus. The exact number of