GameStop added $4.5B to its cash pile almost entirely by selling debt (GME:NYSE)

Core Insights - GameStop's stock, which is heavily shorted, increased by 4% on Wednesday [3] - The company reported an operating profit in Q2, marking a significant turnaround [3] - A notable highlight from the earnings report was the substantial cash reserves held by the company [3] Financial Performance - GameStop achieved an operating profit in the second quarter, indicating improved financial health [3] - The increase in stock price reflects positive market sentiment following the earnings report [3] Market Position - The heavily shorted nature of GameStop's stock suggests ongoing market speculation and interest [3] - The company's cash pile positions it favorably for potential investments or strategic initiatives [3]