Gamestop Stock (GME) rose about 5% in early trading on Friday After CNBC reported Videoigara seller investigates an investment in the Crypto Currency, including Bitcoin (BTC-USD).
CNBC has determined that the company may not follow investments and still explores the option. The stock jumped as much as 20% after the bell on Thursday before returning some profits.
Post on social networks, executive director Gamestop, Ryan Cohen over the weekend, caused guessing about the interest of Gamestop for the cryptocurrency currency. Cohen posted a picture on X with a strategy (Mstr) Executive Director Michael Saylor Early on Sunday morning. Saylor famously attracted his company, previously known as Microstrategy, on Bitcoin as he holds now More than 447,000 tokens.
The strategy called herself “the first and largest Bitcoin Treasury company” in an announcement to change the name last week. The strategy shares increased approximately 370% over the past year, as the company continued to buy Bitcoin in the midst of almost 100% together in the Crypto currency on the same time frame.
As Gamestop divides rose after Cohen’s post, Sherwood’s Luke Kawa noticed In order for investors to bet that Gamestop will follow the Bitcoin Buying Strategy.
“The warm response to the market to Cohen’s tweet suggests that traders hopes Cohen uses some of Gamestop’s $ 4.6 billion in cash and securities similar to cash to take a Saylor page. (This book has one rule: Buy Bitcoin ), “Kawa wrote),” Kawa wrote), “she wrote.
Back in December 2023, The Gamestop Committee gave Cohen Authorization to use the capital of investment company. Who ran the way for a video game operator to use his money like a Holding Society similar to a daily magazine (Djco) or Berksshire Hathaway (Mustache,, Mustache).
Since in May 2024 he reached a high level of $ 64 per share In the midst of revival of meme sharesGamestop shares have declined and about 15%have been excluded for the last month. The company has yet to report earnings in the fourth quarter.
Josh Schafer is a journalist for Yahoo Finance. Follow it on x @@ Joshschafer.
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