Shares of Reddit favourite GameStop fall as it mulls stock sale

Shares of Reddit-revered GameStop are under pressure after the video-game retailer said it is considering cashing in on its meteoric stock rise to fund its e-commerce plans.

Shares of Reddit favourite GameStop Corp fell more than 14 percent before the opening trading bell on Wednesday after the video-game retailer said it might cash in on a meteoric rise in share price to fund its e-commerce expansion. GameStop has surged nearly 900 percent so far this year, and at the peak of the trading frenzy on January 28 the shares had touched $483 apiece. After reporting quarterly results, the company said on Tuesday that it has been considering since January whether to increase the size of the $100m share sale that it originally announced in December.