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GameStop has closed more than half of its locations worldwide over the past decade. Transcript: Kelsey Barberio: After closing more than 1,000 locations across the globe in the last year alone, GameStop announced more store closures.
"Why did (GameStop) wait so long if they were going to go down this road? Six months ago, nine months ago would have made a lot more sense," an analyst said.
The bitcoin price is little changed at last check and is down 1.2% over the past 24 hours. The flagship cryptocurrency is up just over 3% in the past seven-day stretch but a better 10%-plus since its March bottom in the ballpark of $76,000. Investors might need to look at the BTC price through a slightly wider lens to appreciate its march higher this month. Meanwhile, bitcoin rival – precious metal gold – continues to hit new all-time highs above the $3,000 per ounce threshold. Gold is acting like the portfolio diversifier and inflationary hedge that it was designed to be. Bitcoin, on the other hand, has been more sensitive to the same market headwinds that are haunting stocks, including inflation, tariff uncertainty and worries of an economic recession. The bitcoin price remains 20% below its all-time high reached in early 2025 of just over $109,000 per BTC. Key Points The bitcoin price is little changed at the moment and has fallen 1.2% in the past 24 hours. The very same
Jim Cramer breaks down why he's keeping an eye on shares of Gamestop.
GameStop, the video game retailer famed for becoming a meme stock and causing chaos in the stock market during the COVID-19 pandemic, is back in the spotlight for a new pursuit: investing in Bitcoin.
GameStop Corp (NYSE:GME) shares have pulled back after the video game retailer announced a planned $1.3 million debt issue of convertible notes due in 2030 to purchase Bitcoin in addition to funding general corporate activities. Shares of GameStop fell 12% to about $25, erasing gains from Wednesday's session.
GameStop Corp.'s latest earnings report was ho-hum, but the stock surged 12% on news of allowing Bitcoin ownership. The GME stock chart remains neutral, with no compelling reasons to buy or short it, despite the RSI nearing 70. GameStop's revenue continues to decline, and the company holds nearly $5 billion in cash without clear plans for its use.
The latest sell-off came after the video game chain announced plans to $1.3 billion through the sale of convertible senior notes to purchase bitcoin.
The core business suffers and contracts, but the cash balance has proven sufficient to produce profitability, and now we know what CEO Ryan Cohen wants to do with it.
Stock futures were mostly higher Thursday even as President Donald Trump slapped 25% tariffs on all cars made outside of the United States, leading to worries over what the trade war will mean to the U.S. and global economies.