GameStop Stock Surges Over 8% In Friday Pre-Market: What’s Going On?
GameStop Corp. (NYSE:GME), the renowned video game retailer is trading 8.6% higher in Friday pre-market amid reports of investments in bitcoin and other cryptocurrencies.
What Happened: GameStop is exploring the possibility of diversifying its investments into alternative asset classes, such as cryptocurrencies, with a particular focus on bitcoin (CRYPTO: BTC), indicated a CNBC report. This news triggered a surge in GameStop’s shares, which skyrocketed by up to 20% in extended trading.
However, the company may decide against proceeding with these investments as it is still assessing whether such a move aligns with its business strategy, as revealed by an insider.
It’s noteworthy that GameStop had previously launched crypto wallets in 2022, enabling users …
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