GameStop increased the value of new stock it may sell from $US100 million ($131 million) to $US1 billion, as the US video game retailer seeks to capitalise on a surge in its shares from a Reddit-driven rally this year.
GameStop stock has rampaged over 900 per cent higher since January in highly volatile trading as amateur investors organised on social media sites such as Reddit staged a stubborn buying spree, winning out over Wall Street hedge funds that had shorted its shares.
