First it'll be just to plug up the money their operations are constantly losing. Then they'll start going on acquisition sprees, giving out giant compensation packages, get into empire building. Maybe they'll buy a movie studio or a Vegas casino. That's a constant supply of new stock that will keep pushing down the price. It's the same way that AOL used their stock to buy Time Warner during the Internet bubble.

AMC already took advantage of the meme madness by selling a huge chunk of shares to lock in some cash. That's why AMC didn't moon like GME. But give it a week or two, and GME's board will pretty much be forced to do the same thing.