GameStop stock soars as meme icon raises almost $1 billion in stock sale

) stock surged as much as 22% on Tuesday after the video game retailer said it raised almost $1 billion from its latest equity offering.

“If this were a normal market, people would be a little freaked out,” Steve Sosnick, Interactive Brokers chief strategist told Yahoo Finance.He added, “You don’t sell stock into the market if you think your stock is undervalued. You do it when you think your stock is overvalued.”The company took advantage of mid-May's unexpected meme rally, selling 45 million shares to bring in about $933 million, according to a Friday statement.

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