GameStop says it plans to focus on the trading-card business moving forward. This comes as the video game industry grows increasingly digital. Shares of the company fell 20% Thursday following an announcement of a bond sale.

GameStop Corp., the largest standalone video-game retailer in the US, will focus on growing its trading card business, Chief Executive Officer Ryan Cohen said at the company’s annual shareholder meeting Thursday.

GameStop said it plans to raise more debt — a move that could indicate another bitcoin purchase is looming for the videogame retailer and original meme stock.

GameStop shares got destroyed Thursday after the company said it wants to raise $1.75 billion through a convertible note sale, triggering a massive selloff.

GameStop stock plummeted after the video game seller announced that it intends to sell $1.75 billion worth of convertible bonds.

GameStop shares are dropping 20% Thursday morning, a day after the video-game retailer announced a new fundraising effort.

The video game retailer announced plans for a $1.75 billion convertible notes offering to partially fund its bitcoin purchase.