GameStop falls 22% after issuing convertible bonds to buy Bitcoin

GameStop, one of Wall Street's most popular meme stocks, saw its stock price plummet by more than 22% on news that it would be issuing convertible bonds to buy up Bitcoin.
On the 12th (local time) in the New York market, GameStop recorded a sharp drop of 22.45% to $22.14. On this day, GameStop used 1
The company announced that it would issue convertible bonds worth $750 million. This is likely to further exacerbate the company's already poor financial situation.
GameStop is a video game chain whose performance has been sluggish due to the popularity of online games, but the stock price has been boosted by the US ants.
It's a prime example of the meme stock in the formula market, and in its recent earnings report, it revealed that sales for the last quarter were down 6% year over year to $748 million.