GameStop Corp. ( NYSE:GME) is considered the king of meme stocks and most of the investing literature that can be found around the stock revolves around its meme feature.

GameStop Corp.’s stock soared Tuesday after the company announced the completion of a previously disclosed, roughly $933.4 million equity offering through the sale of 45 million shares. GameStop intends to use the proceeds from the at-the-market offering for “general corporate purposes,

Meme stock GameStop soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month.