The struggling retailer is considering buying bitcoin, according to a CNBC report.
CNBC's Joe Kernen reports on the latest news.
Video game retailer and meme stock GameStop is considering investments in bitcoin and other cryptocurrencies, according to a CNBC report. Following the news, GameStop shares surged as much as 20% in after-hours trading.
In the closing of the recent trading day, GameStop (GME) stood at $26.34, denoting a +1.35% change from the preceding trading day.
Shares of GameStop were gaining more than 6% in extended trading Thursday, following a report that the company is weighing a bitcoin investment.
GameStop is exploring investments in alternative asset classes, including crypto and in particular bitcoin, three sources said.
GameStop (GME) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Cryptocurrencies themed on video game retailer GameStop Corp. GME were up in the green Monday, buoyed by interest in CEO Ryan Cohen's picture with Strategy co-founder Michael Saylor.
GameStop shares surged over 9% on Monday, a few days after the company's CEO, Ryan Cohen, posted a photo of him alongside MicroStrategy co-founder and billionaire Bitcoin investor Michael Saylor, prompting speculation about the video game retailer's cryptocurrency strategy.
Shares of GameStop (GME) and MicroStrategy (MSTR)—which last week rebranded itself as Strategy—each rose Monday morning after a picture of executives from the companies was posted to social media over the weekend.
Shares in the video game retailer and bitcoin holding company rose on Monday as social media users speculated GameStop might be considering a push into bitcoin.
GameStop Corp (NYSE: GME) chief executive Ryan Cohen shared a picture with MicroStrategy Inc's (NASDAQ: MSTR) chairman Michael Saylor on Sunday. Shares of both companies are inching up today.