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A cryptocurrency named after GameStop Corp. GME, which jumped more than fivefold due to the firm's Bitcoin BTC/USD treasury strategy, dramatically reversed course on Wednesday.
GameStop (GME) shares popped +11% in today's trading session as the world's largest video game retailer was able to crush its Q4 earnings expectations after-market hours on Tuesday.
GRAPEVINE, Texas, March 26, 2025 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop”) today announced that it intends to offer, subject to market conditions and other factors, $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2030 (the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). GameStop also intends to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $200 million aggregate principal amount of notes.
Nasdaq 100 slips on Trump's tariff remarks; GameStop bucks the trend with a strong 15% gain after revealing a shift in strategy toward bitcoin.
Video game retailer GameStop on Tuesday announced that it anticipates closing a "significant number" of stores in fiscal 2025 and will invest company cash in bitcoin.
GameStop (GME) shares were up around 14% Wednesday, a day after the retailer released fourth-quarter results and announced the addition of Bitcoin (BTCUSD) to its corporate investment policy.
Madison Mills and Brad Smith take a closer look at the day for Wednesday, March 26, alongside top experts on Morning Brief. The Yahoo Finance team examines GameStop and Dollar Tree earnings reports as investors digest the results.
GME's fiscal fourth-quarter results reflect lower y/y sales. However, the gross margin expands 490 bps to 28.3% in the quarter.
GameStop Corp (NYSE:GME) posted a rare operating profit for the fourth quarter despite a sharp decline in revenue, prompting Wedbush analysts to boost their price target on the video game retailer while repeating their ‘Underperform' rating. “We are raising our price target from $10 to $11.50 to reflect the company's cash balance of approximately $10.50 per share plus $1 in going concern value,” the analysts wrote.
GameStop (NYSE: GME) stock's performance in recent years has been marked by protracted periods of disinterest and relative inactivity, split by brief resurgences reminiscent of the original meme stock craze.