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Barchart
Barchart
Aditya Raghunath

Top Meme Stock Wipes Out $1.4 Billion in Debt With Stock Swap. How to Play It Here.

GameStop eBay Ryan Cohen GME

GameStop (GME) recently moved to strengthen its balance sheet by reducing long-term debt. The retailer turned meme stock legend recently announced that it has agreed to swap approximately $1.4 billion in convertible senior notes for shares of its common stock.

For a company that built its comeback story on cash and patience, this is another sign that management wants a cleaner balance sheet heading into its biggest deal yet. Let's take a closer look.

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