Gamestop Stock Slips Adsout Company announces planned for collecting $ 1.3 billion to buy Bitcoin

Gamestop (Fugitive) stock slid more than 8% Wednesday Wednesday The company announced Tries to collect $ 1.3 billion to buy Bitcoin (BTC-USD).

The company will try to raise funds through convertible higher notes.

The news comes one day after the shares gamestop increased more nearly 12% when the video game operator has converted popular meme stocks He said in the release If her committee “unanimously approved the update of his investment policy that Bitcoin added as a means of maintaining the vault.”

Planned investment Bitcoin comes about a month after CNBC reported Gamestop There was a research of cryptocurrent investments. 8. February, Social Media Post by General Manager Gamestop Ryan Cohen caused speculation over the interest of gamestops for cryptocurrency. Cohen set a picture on X with strategy (Mstr) General Manager Michael Sailora, who found out his company in Bitcoin in Bitcoin in Bitcoin. Now hold More than 447,000 tokensby February foot.

The strategy was well developed by Realolor, with stocks over 84% in the past year in the middle of the increase in Bitcoin price. But Strategs for Wall Street hesitates to conclude that Gamestop investment in Bitcoin would mean that stock video games.

“The company’s strategy, which has changed about six times in three years, will they buy cryptocurstity and be just like microstrategia,” “Analyst Vedbush Michael Pachter” He said Yahoo Finance on Monday before the exemption of earnings.

He added: “The problem with that thinking is traded by Microstrategs about twice their BitCoin esters. If Gamestop is buying all the cash and trade in twice (their bitter farms, the stock would drop five dollars.”

Also after the ringing on Tuesday, Gamestop reported the results of the fourth quarter earnings. The company published 1,228 billion net sales in a neighborhood, marking a drop of 28% of the previous period of the year. The whole year, Gamestop reported a $ 36.1 million adjusted, down $ 64.7 million in the year before.

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

Click here for the latest news exchange and depth analysis news, including supplies exceeding events

Read the latest financial and business news from Yahoo Finance