GameStop raises $2.1 billion as "meme stock" traders drive up share price

GameStop received a $2.1 billion infusion of cash this week after selling 75 million new shares to eager investors.

The video game retailer, whose stock has been on a rollercoaster in recent weeks after being embraced by retail investors, disclosed in a regulatory filing on Tuesday that it plans to use the new funding for general corporate purposes, including possible acquisitions.

GameStop sold the shares at an average price of $28.50 each, according to Wedbush Securities. The stock sale comes three weeks after the company sold an additional 45 million shares, raising $933 million.