US video game retailer GameStop says it has raised more than $2bn (£1.57bn) in its second share sale in a month after a rally led by the investment influencer Keith Gill, known as Roaring Kitty.
The announcement comes just days after Mr Gill’s first YouTube livestream in three years.
The company’s shares jumped by almost 23% on Tuesday and have doubled in the last six months.
GameStop’s popularity among retail investors during the pandemic helped coin the idea of meme stocks – those that gain popularity through sites like Reddit.
Stocks that often became popular were ones that had been heavily bet against by professional investors, such as hedge funds.
As a result some of these shares saw their prices rise and fall sharply in hugely volatile trade.
In an announcement to the New York Stock Exchange on Tuesday, the company said it had sold all 75 million shares it had offered to investors, raising $2.137bn.
Over the last month, the firm has…
