GameStop Stock Pops 10% After Report Company can invest in CRIPTO

Gamestop (Fugitive) About 10% increased on Thursday Thursday After CNBC Video game seller explores investment in cryptocurrency including bitcoin (BTC-USD).

CNBC has determined the company may not be accompanied by investments and still explores the option. The stock jumped as much as 20% after the bell before they returned some winnings.

Social media posts from the General Manager of Gamestop Ryan Cohen, during the weekend caused speculation due to the interests of gamestop for cryptocurrency. Cohen published a picture of X with General Directors of Michael Sailor Strategy at the beginning of the week in the morning. Sailor is familiar with his society, earlier known as Microstrats, to Bitcoin, because now he holds More than 447,000 Bitcoin.

In relation to February 5, February announces changes to the company’s name, the strategy is called “first and largest world and largest bitcoin treasury company”. The strategy actions are approximately 370% over the past year, because the company continued to buy Bitcoin in the middle of almost 100% miting in cryptocurious during the same time frame.

Shervood’s Port of Coffee noticed After Gamestop shares increased after Cohen’s tweet to be able to bet the gamestop would follow the Bitcoin Strategy purchase model.

“The response of the warm market of Cohen’s Tweet suggests that traders hope that Kohen uses $ 4.6 billion in $ 4.6 billion in cash and cash securities to record a page from Realolor. (That book She enrolled in one rule: Bought Bitcoin) “Coffee wrote.

Return in December 2023. years, Gamestop’s board gave Cohena Authorization to use the company’s capital to invest investments, a racing way for video games operator to use its cash such as holding companies similar r to daily list (Djco) or Berkshire Hathaway (Brk-b, Brc).

Since he was hit by $ 64 per share in May 2024. Years In the midst of reviving the Meme storeGagestop actions have fallen since then in the past month of about 15%. The company has yet to report a four-time earnings.

Josh Schafer is a journalist for Yahoo Finance. Follow him on x @_joshschafer.

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