GameStop (NYSE:GME) Bolsa

GameStop

GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. GameStop sells new and second-hand video game hardware, physical and digital video game software, and video game accessories, mainly through GameStop, EB Games, and Micromania stores and international e-commerce sites. The majority of sales are from the United States.

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$BTC

GameStop Corp (NYSE:GME) anunció el martes sus planes de seguir con la venta de sus operaciones francesas y canadienses.

GameStop (GME) evalúa criptomonedas y vende operaciones en Francia y Canadá

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Los grandes fondos multimillonarios aumentaron sus participaciones en GameStop Corp. (NYSE:GME) durante el cuarto trimestre de 2024, después de que en el tercer trimestre la empresa reportara 4.616 millones de dólares en efectivo y equivalentes.

GameStop (GME) atrae a fondos multimillonarios mientras planea invertir en Bitcoin: ¿arriesgado o estratégico?

Las acciones de GameStop suben tras informes sobre una posible inversión en Bitcoin y criptomonedas. ¿Será este su próximo gran movimiento?

Acciones de GameStop (GME) se disparan tras rumores de inversión en Bitcoin (BTC)

GameStop Corp

Globus Medical, Inc. Class A Common Stock

Globus Medical Inc

GAMEE

Gambit Energy Inc

GOME ELEC APP HLDG ORD by GOME Retail Holdings Limited

GOME Retail Holdings Ltd

Good Gaming Inc

VanEck Green Metals ETF

GAMEON ENTMT TECHNOLOGIES by GameOn Entertainment Technologies Inc.

GameOn Entertainment Technologies Inc

GME INNOTAINMENT INC by GME Innotainment, Inc.

GME Innotainment Inc

Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the overall market<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030425&amp;t=be2bearmibe3na1"> and individual tickers.</a>
Here is a look at the most-searched stocks on Benzinga Pro for the month of February. Current prices and year-to-date performance are based on March 4 prices and do not include dividends. 
1.Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
<ul>
<li>Current Price: $39.42</li>
<li>52-Week Range: $17.25 to $122.90</li>
<li>Year-to-Date Return: +31.1%</li>
<li>1-Year Return: -63.4%</li>
<li><a href="https://www.benzinga.com/trading-ideas/25/01/42802731/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-2024-where-do-tesla-nvidia-gamestop-trump-media-stocks-rank">2024 Benzinga Pro Search Rank</a>: 4th</li>
</ul>
2. NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) 
<ul>
<li>Current Price: $115.74</li>
<li>52-Week Range: $75.61 to $153.13</li>
<li>Year-to-Date Return: -16.2%</li>
<li>1-Year Return: +36.0%</li>
<li>2024 Benzinga Pro Search Rank: 1st</li>
</ul>
3. SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)
<ul>
<li>Current Price: $577.09</li>
<li>52-Week Range: $493.86 to $613.23</li>
<li>Year-to-Date Return: -1.2%</li>
<li>1-Year Return: +12.7%</li>
<li>2024 Benzinga Pro Search Rank: 3rd</li>
</ul>
4. Palantir Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>)
<ul>
<li>Current Price: $83.19</li>
<li>52-Week Range: $15.67 to $84.41</li>
<li>Year-to-Date Return: +10.6%</li>
<li>1-Year Return: +246.1%</li>
<li>2024 Benzinga Pro Search Rank: 7th</li>
</ul>
5. Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
<ul>
<li>Current Price: $271.39</li>
<li>52-Week Range: $138.80 to $488.54</li>
<li>Year-to-Date Return: -28.5%</li>
<li>1-Year Return: +44.1%</li>
<li>2024 Benzinga Pro Search Rank: 2nd</li>
</ul>
6. BigBear.ai Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAI#NYSE">BBAI</a>)
<ul>
<li>Current Price: $4.65</li>
<li>52-Week Range: $1.16 to $10.36</li>
<li>Year-to-Date Return: +13.3%</li>
<li>1-Year Return: +7.5%</li>
<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>
</ul>
7. Reborn Coffee Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REBN#NASDAQ">REBN</a>)
<ul>
<li>Current Price: $4.47</li>
<li>52-Week Range: $0.92 to $8.75</li>
<li>Year-to-Date Return: +162.9%</li>
<li>1-Year Return: +202.0%</li>
<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>
</ul>
8. Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>)
<ul>
<li>Current Price: $7.77</li>
<li>52-Week Range: $0.66 to $21.42</li>
<li>Year-to-Date Return: -61.2%</li>
<li>1-Year Return: +359.2%</li>
<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>
</ul>
9. Hims &amp; Hers Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>)
<ul>
<li>Current Price: $39.50</li>
<li>52-Week Range: $11.20 to $72.98</li>
<li>Year-to-Date Return: +56.9%</li>
<li>1-Year Return: +170.7%</li>
<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>
</ul>
10. Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
<ul>
<li>Current Price: $130.30</li>
<li>52-Week Range: $68.36 to $145.30</li>
<li>Year-to-Date Return: +53.4%</li>
<li>1-Year Return: +81.1%</li>
<li>2024 Benzinga Pro Search Rank: Not in Top 20</li>
</ul>
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent030425">Get Tips On What They Bought And Sold With Our Easy-to-Use Tool</a></li>
</ul>
Honorable Mentions:&nbsp;The following stocks were the 11th&nbsp;to 20th&nbsp;most-searched tickers on&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030425&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;in February.
11. Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
12. Firefly Neuroscience Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIFF#NASDAQ">AIFF</a>)
13. Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)
14. AppLovin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>)
15. Alpha Modus Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMOD#NASDAQ">AMOD</a>)
16. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
17. Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)
18. Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)
19. Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)
20. Tempus AI Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>)
Why It&#8217;s Important: Super Micro Computer took the crown in February as the most-searched ticker on <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent030425&amp;t=be2bearmibe3na1">Benzinga Pro</a>, narrowly edging out Nvidia.
The list of the most-searched tickers in February looked significantly different, with only five of the top 10 coming from the list of the most-searched tickers on Benzinga Pro in 2024.
Super Micro Computer, Nvidia, the SPDR S&amp;P 500 ETF Trust and Tesla all ranked in the top five, where they also ranked throughout 2024.
Palantir, which ranked 7th in 2024, moved to 5th place in February.
Four of the top 10 stocks from 2024 dropped to the 11th through 20th range, including Advanced Micro Devices, Amazon, Apple and the Invesco QQQ Trust ETF.
GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) was the lone top 10 stock to drop out of the top 20 after ranking 10th in 2024. Other stocks that ranked in the top 20 and fell out of the top 20 include Meta Platforms, MARA Holdings, Trump Media &amp; Technology, Microsoft, SoundHound AI, Boeing, Micron and Strategy.
The top 10 list included several new names, including BibBear.AI and Rigetti, which fit the themes of AI and quantum computing that have been popular with investors in recent years. Hims &amp; Hers made the top 10 in February, which came as the company saw a surging stock price and also showed off its first-ever <a href="https://www.benzinga.com/25/02/43598736/super-bowl-commercials-2025-complete-list-of-super-bowl-lix-ads-and-companies-behind-them">Super Bowl commercial.</a>
Time will tell if many of the names remain on the list for the month of March or if new sectors and themes gain the attention of Benzinga Pro users.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/25/02/43827291/exclusive-will-trumps-tariffs-hurt-or-help-stock-market-59-say-this">EXCLUSIVE: Will Trump&#8217;s Tariffs Hurt Or Help Stock Market? 59% Say This…</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Exclusives

Trading Ideas

AAPL

AIFF

AMOD

AMZN

BABA

BBAI

Hims & Hers Health, Inc. Class A Common Stock

HIMS

HOOD

INTC

NVDA

PLTR

REBN

RGTI

SMCI

TSLA

EXCLUSIVE: February's 20 Most-Searched Tickers On Benzinga Pro – Where Do Tesla, Palantir, Alibaba, Nvidia Rank?

Zip And GameStop Partner; GameStop Customers Can Use Short-Term Installments Payment Provider Zip For Purchases

GameStop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) has outperformed the market over the past 20 years by 3.8% on an annualized basis producing an average annual return of 11.94%. Currently, GameStop has a market capitalization of $10.97 billion. 
Buying $1000 In GME: If an investor had bought $1000 of GME stock 20 years ago, it would be worth $9,410.86 today based on a price of $24.55 for GME at the time of writing.
<h3>GameStop's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740691809_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have This Much Today

WIIM

BIRK

BURL

ETSY

EVGO

FIVE

LULU

PLCE

ULTA

Shares of e-commerce and retail companies are trading lower amid weakening consumer confidence and eBay's soft Q1 revenue guidance.

An investor recommendation urging video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) to adopt the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) standard caused cryptocurrencies themed on the company to surge on Tuesday.
What happened: BNB Chain (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>)-based GameStop Coin exploded 363% over the last 24 hours to a market capitalization of $3.15 million.
Similarly, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based GameStop, with a much higher valuation, rallied over 8%, while its trading volume bounced 46% in the last 24 hours.
It&#8217;s worth noting that these meme coins aren't directly tied to GameStop but rather seek to capitalize on the hype surrounding the meme stock.
Benzinga Note:&nbsp;Investing in meme coins and cryptocurrencies is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:50 p.m. ET)</td>
</tr>
<tr>
<td>GameStop Coin (GME)</td>
<td>+363.19%</td>
<td>$0.000009387</td>
</tr>
<tr>
<td>GameStop (GME)</td>
<td>+8.27%</td>
<td>$0.0001116</td>
</tr>
</tbody>
</table>
</figure>
The surge came after Matt Cole, CEO of investment firm Strive Asset Management, sent a letter urging GameStop CEO Ryan Cohen to adopt Bitcoin as a Treasury reserve asset.&nbsp;
Strive, which holds shares of GameStop through its exchange-traded funds, proposed that GameStop utilize its $5 billion-strong cash reserves to invest in Bitcoin, a move that could propel itself &#8220;from meme stock to market leader.&#8221;
Cohen has acknowledged the letter.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yesterday, Strive sent GameStop an engagement letter urging them to adopt Bitcoin as the cornerstone of their treasury. We believe this shift can elevate <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GME</a> from "meme stock" to gaming-sector leader, driving long-run value for shareholders—including our clients who hold…
&mdash; Matt Cole (@ColeMacro) <a href="https://twitter.com/ColeMacro/status/1894425685126455740?ref_src=twsrc%5Etfw">February 25, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Note that Strive was co-founded by Ohio Governor hopeful Vivek Ramaswamy in early 2022.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/02/43931332/peter-schiff-questions-michael-saylor-led-strategys-leverage-bitcoin-play-amid-share-price-decline-massive-dilution-has-destroyed-shareholder-value">Peter Schiff Questions Michael Saylor-Led Strategy&#8217;s Leverage Bitcoin Play Amid MSTR Decline: &#8216;Massive Dilution Has Destroyed Shareholder Value&#8217;</a>
Why It Matters: Speculations about GameStop's foray into Bitcoin investments have soared ever since <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43605313/gamestop-stock-is-surging-monday-whats-going-on">Cohen posted a picture</a> with Michael Saylor, co-founder of Bitcoin Treasury company Strategy,&nbsp; on X
GameStop has been one of the most popular retail stocks in recent years, helped by the historic 2021 meme stock craze that saw the stock squeeze higher. Keith Gill, also known as <a href="https://www.benzinga.com/topic/roaring-kitty">"Roaring Kitty,&#8221;</a> has influenced GameStop&#8217;s price action through his cryptic posts on X.
Price Action: Shares of GameStop were up 0.16% in after-hours trading after closing 2.32% lower at&nbsp; $24.42 during Tuesday's regular session , according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/02/43931639/riot-platforms-ceo-reaffirms-plan-to-boost-bitcoin-yield-but-not-looking-too-closely-at-strategys-maneuvers">Riot Platforms CEO Reaffirms Plan To Boost Bitcoin Yield But &#8216;Not Looking Too Closely&#8217; At Michael Saylor-Led Strategy&#8217;s Maneuvers</a></li>
</ul>

$BNB

$ETH

GameStop-Themed Cryptos Soar After Vivek Ramaswamy Co-Founded Firm's CEO Urges Bitcoin Investment: Graduate From Being 'Meme Stock' To Sector Leader

<a href="https://x.com/ryancohen/status/1894458869364981938" title="https://x.com/ryancohen/status/1894458869364981938">https://x.com/ryancohen/status/1894458869364981938</a>

Management

GameStop's Chairman and CEO, Ryan Cohen, In X Post, Said Letter Received. Earlier It Was Reported The CEO Of Strive Asset Management Sent A Letter To Cohen To Put Company's Cash Reserves Into Bitcoin

'GameStop Should Convert Its $5B Cash Into Bitcoin, Urges Strive's CEO Matt Cole'

AENT

ATAT

BTBD

BYON

CANG

CAVA

DECK

DOGZ

HSAI

IRBT

KAVL

LCID

MULN

NAAS

NAMI

RIME

SBET

SERV

WKSP

XPOF

ZSPC

Shares of companies within the broader consumer discretionary sector are trading lower as investors react to last week's economic data and await key reports this week.

ABNB

Adtalem Global Education Inc. Common Stock

ATGE

BBWI

BROS

CHWY

CVNA

DKNG

DUOL

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LAUR

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LIND

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Shares of companies in the broader consumer discretionary sector are trading lower amid overall market weakness on US consumer and economic concerns.

General

GameStop shares are trading higher after the company announced plans to pursue a sale of its French and Canadian operations.

<a href="https://x.com/ryancohen/status/1891884823465103698" title="https://x.com/ryancohen/status/1891884823465103698">https://x.com/ryancohen/status/1891884823465103698</a>

Ryan Cohen Posts On X "Email M&A@gamestop.com if you're interested in buying GameStop Canada or Micromania France. High taxes, Liberalism, Socialism, Progressivism, Wokeness and DEI included at no additional cost if you buy today!"

GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) on Tuesday announced plans to pursue a sale of its <a href="https://www.benzinga.com/pressreleases/25/02/g43777147/gamestop-announces-plan-to-pursue-a-sale-of-french-and-canadian-operations">French and Canadian operations</a>.
What Happened: GameStop on Tuesday announced that it intends to pursue a sale of its operations in France and Canada as part of its evaluation of its international assets. 
The news comes after GameStop shares jumped as much as 20% last week following reports that the company was considering adding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other crypto assets to its balance sheet after GameStop&#8217;s Ryan Cohen posted a picture with Strategy&#8217;s Michael Saylor on&nbsp;<a href="https://x.com/ryancohen/status/1888098643732811864" target="_blank" rel="noreferrer noopener">X</a>.
Sources familiar with the matter reportedly said GameStop was in the early stages of figuring out if a crypto investment makes sense for its business and could still decide to not follow through. 
Check This Out: <a href="https://www.benzinga.com/general/gaming/25/02/43715293/gamestop-stock-jumps-on-report-its-considering-bitcoin-crypto-investments">GameStop Stock Jumps On Report It&#8217;s Considering Bitcoin, Crypto Investments</a>
GameStop previously made a push into the crypto space with the launch of wallets that let users manage crypto and non-fungible tokens (NFTs) and also provided access to&nbsp;GameStop&#8217;s NFT marketplace. However, the company closed down the offering in 2023 due to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/08/33511904/gamestop-cites-regulatory-uncertainty-drops-ios-chrome-extension-crypto-wallet-support" target="_blank" rel="noreferrer noopener">"regulatory uncertainty."</a>
When GameStop reported third-quarter financial results in December, the company said that it was&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36142175/meme-king-ryan-cohen-now-able-to-trade-stocks-with-gamestop-funds" target="_blank" rel="noreferrer noopener">freeing up Cohen to bet on stocks</a>&nbsp;in order to improve the company's financial standing.
GameStop had $4.62 billion in cash as of the end of the third quarter. The company is due to report fourth-quarter financial results next month. Analysts expect the company to report earnings of 8 cents per share and revenue of $1.48 billion, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
GME Price Action: <a href="http://benzinga.com/quote/gme">GameStop shares</a> were down 0.81% at $26.78 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/market-summary/25/02/43773441/ahead-of-gamestops-bitcoin-purchase-plans-blackrock-morgan-stanley-goldman-sachs-and-other-billion-dollar-funds-load-up-on-gme-stock-in-q4">Ahead Of GameStop&#8217;s Bitcoin Purchase Plans, BlackRock, Morgan Stanley, Goldman Sachs, And Other Billion Dollar Funds Load Up On GME Stock In Q4</a></li>
</ul>
Photo: Shutterstock.

What's Going On With GameStop Stock Tuesday?

GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) ("GameStop" or the "Company") today announced that as part of its evaluation of its international assets, the Company intends to pursue a sale of its operations in France and Canada.

Asset Sales

GameStop Plans to Sell Its France and Canada Operations in Strategic Shift

Big billion-dollar funds increased their stakes in GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) during the fourth quarter of 2024, following a third quarter in which it held $4.616 billion in cash and cash equivalents. This comes as <a href="https://www.benzinga.com/general/gaming/25/02/43715293/gamestop-stock-jumps-on-report-its-considering-bitcoin-crypto-investments">recent reports</a> suggest the video game retailer is planning to buy Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies.
What Happened: GameStop, which has $4.616 billion in cash and cash equivalents, according to its third quarter 10-Q filing was added to the portfolios of many large funds.
<ul>
<li>As of the fourth quarter 13F filings, about 143 million shares of GME valued at $4.5 billion were held by 356 funds.</li>
<li>UBS Group AG increased its stake in the company by 1635% during the fourth quarter.</li>
<li>Ken Griffin&#8216;s Citadel Advisors added 52%, whereas BlackRock just added 8%, valuing its total stake in the company at $1.091 billion</li>
<li>Renaissance Technologies and JPMorgan Chase reduced their stakes by 57% and 56%, respectively.</li>
</ul>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Funds</td>
<td>Holdings (as of Sept. 30)</td>
<td>Holdings (as of Dec. 31)</td>
<td>Change (in %)</td>
<td>Value As Of Dec. 31</td>
</tr>
<tr>
<td>UBS Group AG</td>
<td>183,949</td>
<td>3,190,980</td>
<td>1635%</td>
<td>$100 million</td>
</tr>
<tr>
<td>Citadel Advisors LLC</td>
<td>2,400,543</td>
<td>3,658,769</td>
<td>52%</td>
<td>$114.665 million</td>
</tr>
<tr>
<td>BlackRock Inc</td>
<td>32,241,728</td>
<td>34,821,144</td>
<td>8%</td>
<td>$1.091 billion</td>
</tr>
<tr>
<td>Morgan Stanley</td>
<td>1,272,904</td>
<td>1,626,720</td>
<td>28%</td>
<td>$50.981 million</td>
</tr>
<tr>
<td>Goldman Sachs Group Inc</td>
<td>165,434</td>
<td>196,818</td>
<td>19%</td>
<td>$6.168 million</td>
</tr>
<tr>
<td>Renaissance Technologies LLC</td>
<td>1,896,464</td>
<td>817,848</td>
<td>-57%</td>
<td>$25.631 million</td>
</tr>
<tr>
<td>JPMorgan Chase &amp; Co.</td>
<td>1,548,192</td>
<td>678,433</td>
<td>-56%</td>
<td>$21.262 million</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/general/market-summary/25/02/43762416/billionaire-ray-dalios-bridgewater-trims-holdings-in-6-of-magnificent-7-stocks-amid-valuation-concerns-adds-this-automotive-stock-after-3-years">Billionaire Ray Dalio&#8217;s Bridgewater Trims Holdings In 6 Of &#8216;Magnificent 7&#8217; Stocks Amid Valuation Concerns, Adds This Automotive Stock After 3 Years</a>
Why It Matters: The chairman and CEO of GME, Ryan Cohen sparked controversy following the Feb. 8 X post where he posed with Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), formerly MicroStrategy&#8217;s founder and CEO, Michael Saylor. The following week CNBC <a href="https://www.cnbc.com/2025/02/13/gamestop-is-considering-investing-in-bitcoin-and-other-cryptocurrencies-sources-say.html#:~:text=GameStop%20is%20exploring%20investments%20in,follow%20through%20with%20the%20investments">reported</a> that GameStop is likely to invest in cryptocurrencies.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/wlOwEGli6n">pic.twitter.com/wlOwEGli6n</a>
&mdash; Ryan Cohen (@ryancohen) <a href="https://twitter.com/ryancohen/status/1888098643732811864?ref_src=twsrc%5Etfw">February 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Saylor has positioned Strategy as a treasury or a levered play on Bitcoin as it purchases BTC by issuing 0% convertible debt and preferred shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRK#NASDAQ">STRK</a>). GME&#8217;s Cohen is likely to follow in MSTR&#8217;s path and possibly purchase other coins too.
Economist Peter Schiff <a href="https://www.benzinga.com/25/02/43719682/peter-schiff-says-gamestop-has-thrown-a-hail-mary-by-considering-bitcoin-investments-draws-parallels-with-michael-saylors-strategy">criticized GameStop</a>&#8216;s potential Bitcoin investment as a &#8220;Hail Mary&#8221; move by a company lacking a &#8220;viable business plan&#8221;. He argues that Bitcoin is even more overvalued than GameStop stock, and compared the move to Strategy&#8217;s Bitcoin treasury strategy.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">GameStop, a company with no viable business plan, has thrown another Hail Mary by announcing that it might use its cash to buy Bitcoin. The irony is that Bitcoin is even more overpriced than GME. No matter; speculators are buying the stock anyway, hoping it becomes another MSTR.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1890166114677895302?ref_src=twsrc%5Etfw">February 13, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Price Action: GME rose by 2.62% on Friday and advanced further by 0.26% in the after-hours, whereas the exchange-traded fun tracking Russell 200 index, iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.075%.
GME shares have fallen 11.94% on a year-to-date basis, whereas it was up by 100.15% over the last year.
The price target of <a href="https://www.benzinga.com/quote/GME/analyst-ratings">one analyst</a> covering GME, Wedbush, is $10 with an ‘underperform' rating issued on Sept. 11, 2024. The average of three recent rating changes by the same analyst represents a 65.52% downside for the stock.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/GME/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="361" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18004351/GME-ANR-1024x361.png" alt="" class="wp-image-785987" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18004351/GME-ANR-1024x361.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18004351/GME-ANR-300x106.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18004351/GME-ANR-768x270.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/18004351/GME-ANR.png 1065w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/02/43763438/trump-acting-like-a-mafia-don-says-this-economist-as-uncertainty-mounts-businesses-hold-back-in-fear-of-unforeseen-economic-shifts">Trump &#8216;Acting Like A Mafia Don,&#8217; Says This Economist As Uncertainty Mounts, Businesses Hold Back In Fear Of Unforeseen Economic Shifts</a></li>
</ul>
Photo courtesy: Shutterstock

Ahead Of GameStop's Bitcoin Purchase Plans, BlackRock, Morgan Stanley, Goldman Sachs, And Other Billion Dollar Funds Load Up On GME Stock In Q4

GameStop's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) short percent of float has fallen 5.57% since its last report. The company recently reported that it has 30.33 million shares sold short, which is 8.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.86 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>GameStop Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1739814310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for GameStop has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing GameStop's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, GameStop's peer group average for short interest as a percentage of float is 2.82%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About GameStop?

The week was a rollercoaster ride in the world of cryptocurrencies. From GameStop-themed crypto rallying to a Trump-backed project bolstering Bitcoin and Ethereum, the crypto market was buzzing with activity. Here&#8217;s a quick round-up of the top stories.
GameStop-Themed Crypto Rallies
Cryptocurrencies themed on video game retailer GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) saw a significant surge, thanks to CEO Ryan Cohen&#8217;s picture with Strategy co-founder Michael Saylor. The Ethereum-based GameStop crypto soared nearly 50% in the last 24 hours, with its trading volume surging by 37% to $1.83 million.
<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43614269/gamestop-themed-crypto-rallies-50-after-ryan-cohen-posts-intriguing-photo-with-bitcoin-bull-michael-saylor">Read the full article here.</a>
Trump-Backed Project Bolsters Bitcoin, Ethereum
World Liberty Financial, a cryptocurrency project backed by President Donald Trump, announced a strategic token reserve to support projects like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). The reserve aims to mitigate market volatility by diversifying holdings across tokenized assets.
<a href="https://www.benzinga.com/25/02/43646667/trump-backed-world-liberty-financial-unveils-strategic-token-reserve-to-bolster-bitcoin-ethereum">Read the full article here.</a>
Cathie Wood Backs Musk&#8217;s Blockchain Plan
Cathie Wood, the founder of asset management firm Ark Invest, supported Elon Musk&#8217;s idea of putting all U.S. government spending on blockchains for better transparency. Wood hailed the plan as a &#8220;win, win, win&#8221; for transparency, efficiency, and security.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43613058/cathie-wood-says-doge-lead-elon-musks-plan-of-putting-the-treasury-on-blockchain-a-win-win-win-transparency-efficiency-security">Read the full article here.</a>
Meme Coins Could Make a Comeback
Prominent trader Unipcs believes meme coins could be on the verge of a comeback. He argued that the risk/reward ratio favors longs, as the biggest meme coins have already corrected 70-90% from their peaks just months ago.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43734199/millionaire-trader-says-dogecoin-bonk-trump-memes-have-bottomed">Read the full article here.</a>
SEC Considers Dogecoin, XRP ETFs
The Securities and Exchange Commission has acknowledged Grayscale&#8217;s applications for spot Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) ETFs. This move signals that the agency is open to considering the proposals, a shift from its previous tendency to dismiss similar applications for alternative cryptocurrencies.
<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43730035/does-this-sec-decision-mean-dogecoin-xrp-etfs-are-on-their-way">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/02/43754366/mark-zuckerberg-follows-elon-musks-footsteps-as-meta-reportedly-plans-major-investment-into-ai-powered-humanoid-robots">Mark Zuckerberg Follows Elon Musk&#8217;s Footsteps As Meta Reportedly Plans Major Investment Into AI-Powered Humanoid Robots</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

$DOGE

$XRP

GameStop-Linked Crypto Soars, Trump-Backed Project Bolsters Bitcoin, And More: This Week In Crypto

Markets may be shifting from bad Trump to good Trump as risk sentiment improves, according to Geoffrey Kendrick, head of digital assets research at Standard Chartered. 
In a note sent to Benzinga, he pointed to lower <a href="https://www.benzinga.com/25/02/43605813/oil-prices-energy-stocks-jump-as-gaza-ceasefire-risks-collapse-on-rising-hamas-israel-tensions">oil prices</a>, a potential <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43671255/will-donald-trump-help-broker-a-peace-deal-in-ukraine-dont-be-so-sure-polymarket-trader-say">Russia-Ukraine peace deal</a>, and a peak in Trump-related <a href="https://www.benzinga.com/startups/25/02/43729940/trumps-tariffs-could-raise-taxes-by-1-trillion-kevin-oleary-calls-it-the-beginning-of-a-negotiation">tariff risks</a> as factors supporting a better environment for digital assets.
What Happened: In his latest research note, Kendrick suggested that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) should start moving higher, with 102,500 as a near-term price target.
His comments come as Bitcoin is up 1.7 percent on Friday morning Eastern time, while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) has gained 3 percent over the last 24 hours. Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) is up 5 percent, while Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has surged 7.5 percent, though BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) is down 4.5 percent.
The market's resilience amid inflation concerns and geopolitical uncertainty is reinforcing long-term optimism in digital assets. 
Inflation remains a sticky wicket, with the Producer Price Index rising 0.4 percent in January, exceeding the 0.3 percent forecast. 
Yet, investors are largely brushing off macroeconomic headwinds, focusing instead on institutional support, ETF momentum, and Bitcoin's ability to hold key levels.
GameStop's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) potential Bitcoin investment, the SEC's acknowledgment of Dogecoin and XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) ETF filings, and increased institutional adoption all point toward a more <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43731983/gamestop-buying-bitcoin-is-a-hail-mary-from-a-company-with-no-viable-business-plan-peter-schiff">structured expansion of the crypto market.</a>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43730035/does-this-sec-decision-mean-dogecoin-xrp-etfs-are-on-their-way">Does This SEC Decision Mean Dogecoin, XRP ETFs Are On Their Way?</a>
What Experts Are Saying: Speaking with Benzinga, Stella Zlatareva, editor at Nexo Dispatch, described the market as playing the long game and noted that Bitcoin's recent strength reflects strategic positioning rather than hype.
&#8220;Confidence and relief won over concerns in the markets,&#8221; Zlatareva said, pointing to institutional support and ETF momentum as key drivers. She added that despite rising inflation, Bitcoin's market structure remains intact, with its historical 200-week moving average acting as a strong technical support..
Kendrick's research note adds to the broader sentiment that, despite near-term macroeconomic concerns, crypto markets are in a phase of recalibration and long-term accumulation. 
The shift in risk sentiment, if sustained, could support further gains, particularly as regulatory developments unfold and market structure strengthens.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43708655/binance-founder-cz-sidelines-xrp-solana-and-sparks-bnb-chain-meme-coin-frenzy-with-his-dog-broccoli">Binance Founder CZ Sidelines XRP, Solana And Sparks BNB Chain Meme Coin Frenzy With His Dog &#8216;Broccoli&#8217;</a></li>
</ul>
Image created using artificial intelligence with Midjourney.

$SOL

'Bad Trump To Good Trump' Means Bitcoin Could Go To $102,500, Standard Chartered Says

GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares are trading higher on Friday following a report suggesting that the company is considering investing in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) along <a href="https://www.benzinga.com//node/43727179">with other cryptocurrencies</a>.
The Details: According to <a href="https://www.cnbc.com/2025/02/13/gamestop-is-considering-investing-in-bitcoin-and-other-cryptocurrencies-sources-say.html">CNBC</a>, citing sources familiar with the matter, the company is struggling to decide if the investment in cryptocurrencies makes sense. The stock surged as much as 20% in after-hours trading on Thursday after the news broke.
GameStop previously launched crypto wallets which let users manage their crypto and nonfungible tokens, but the company shut down the service in 2023 due to &#8220;regulatory uncertainty.&#8221;
To keep the business profitable despite a lack of growth, CEO Ryan Cohen has prioritized reducing expenses and optimizing operations. In a November 2 filing, the company reported having $4.6 billion in cash, which it has been using for investments and could use for a potential cryptocurrency investment.
In December 2023, GameStop revised its policies to give the CEO, two independent board members and necessary staff control over the company&#8217;s securities investments. Under the new policy, investments must adhere to specific guidelines or receive approval through a unanimous committee vote or a majority vote from the full board.
GameStop is not the first company to consider investing in cryptocurrencies. MicroStrategy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has bought billions of dollars worth of Bitcoin and is currently the largest corporate holder of the cryptocurrency.
Related Link:<a href="https://www.benzinga.com/25/02/43730446/jfrog-analysts-increase-their-forecasts-after-better-than-expected-earnings"> JFrog Analysts Increase Their Forecasts After Better-Than-Expected Earnings</a>
GME Price Action: At the time of writing, GameStop shares are trading 5.58% higher at $27.81, according to data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
Image: via Shutterstock

What's Going On With GameStop Shares Friday?

Even as GameStop's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) <a href="https://www.benzinga.com/25/02/43727179/gamestop-stock-surges-over-8-in-pre-market-trading-on-friday-on-reports-of-cryptocurrency-investments">stock surged on reports</a> that the company is considering investing in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), economist Peter Schiff sees the move as a desperate attempt to stay relevant.
What Happened: Schiff, a long-time Bitcoin critic, <a href="https://x.com/PeterSchiff/status/1890166114677895302">said</a> on Thursday on X that while GameStop has no viable business model, the irony is that Bitcoin itself is even more overpriced than the video game retailer's stock.
GameStop, which has struggled to maintain consistent profitability, saw its shares rise 8.6% in pre-market trading Friday after reports surfaced that the company is exploring Bitcoin and other cryptocurrency investments. 
CNBC reported that GameStop is still evaluating whether such a move aligns with its business strategy, and no final decision has been made. 
Despite the uncertainty, the stock jumped as much as 20% in extended trading as speculators reacted to the news.
The potential shift into crypto comes after years of speculation that the company might integrate digital assets into its strategy. 
In 2022, GameStop launched a crypto wallet for handling cryptocurrencies and NFTs, but the service was discontinued in 2023 due to regulatory concerns. 
Under CEO Ryan Cohen, the company has focused on cost-cutting and optimizing operations to maintain stability. 
According to a December securities filing, GameStop had $4.6 billion in cash reserves as of Nov. 2, funds that Cohen has been leveraging for investments.
Schiff likened GameStop's possible crypto investment to a &#8220;Hail Mary&#8221; play, comparing it to MicroStrategy&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NYSE">MSTR</a>) aggressive Bitcoin strategy led by Michael Saylor. 
According to Schiff, GameStop is a company with &#8220;no viable business plan.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43702814/bitcoin-mining-equipment-seized-at-us-ports-nationwide-report">Bitcoin Mining Equipment Seized At US Ports Nationwide: Report</a>
Why It Matters: While some investors see Bitcoin as a way to hedge against inflation and diversify corporate balance sheets, Schiff dismissed the move as irrational speculation.
Adding to his critique, Schiff used the moment to advocate for silver, calling it &#8220;the new Bitcoin, except with real value.&#8221; 
He <a href="https://x.com/PeterSchiff/status/1890360750117449965">noted</a> that silver had climbed above $33.38, its highest price since October, and urged investors to buy before prices rise further.
GameStop's potential Bitcoin investment remains uncertain, but the stock's volatility highlights the continued influence of crypto speculation on financial markets. 
Whether the company follows through or not, the market reaction signifies how digital assets continue to shape corporate investment strategies.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43699338/opensea-launches-os2-platform-with-token-trading-and-sea-community-token">OpenSea Launches OS2 Platform With Token Trading And $SEA Community Token</a></li>
</ul>
Image: Shutterstock

GameStop Buying Bitcoin Is A 'Hail Mary' From A Company With 'No Viable Business Plan': Peter Schiff

GameStop Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), 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: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>),<a href="https://www.benzinga.com/general/gaming/25/02/43715293/gamestop-stock-jumps-on-report-its-considering-bitcoin-crypto-investments"> indicated a CNBC report. </a>This news triggered a surge in GameStop&#8217;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&#8217;s noteworthy that GameStop had previously launched crypto wallets in 2022, enabling users to&nbsp;handle their crypto and nonfungible&nbsp;tokens. However, this service was discontinued in 2023 due to &#8220;regulatory uncertainty,&#8221; 
Under the leadership of CEO Ryan Cohen, GameStop has&nbsp;been focusing on cost-cutting&nbsp;and optimizing operations to maintain profitability, even without growth. According to a securities filing in December, the company had a cash reserve of $4.6 billion as of Nov 2, which it has been leveraging for investments.
SEE ALSO: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43723477/billionaire-peter-theil-backed-crypto-startup-plasma-raises-20m-to-develop-bitcoin-based-stablecoin-network">Billionaire Peter Thiel-Backed Crypto Startup Plasma Raises $20M To Develop Bitcoin-Based Stablecoin Network</a>
Why It Matters: GameStop&#8217;s potential move into Bitcoin and other cryptocurrencies has been a topic of speculation for years. The company had previously amended its rules on its cash balance to give CEO Cohen control over trading the company&#8217;s cash balance into stocks and cryptocurrencies.
The rumors gained momentum when Cohen posted a photo with the Co-Founder and former CEO of MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Michael Saylor, a vocal proponent of adding Bitcoin to corporate balance sheets.
This potential move into the crypto space has been viewed by some, such as economist Peter Schiff, as a desperate attempt to gain relevance, <a href="https://www.benzinga.com/25/02/43719682/peter-schiff-says-gamestop-has-thrown-a-hail-mary-by-considering-bitcoin-investments-draws-parallels-with-michael-saylors-strategy">likening it to a &#8220;Hail Mary&#8221; pass</a>. Regardless, if GameStop does decide to proceed with this move, it would be joining a growing list of public companies diversifying into the crypto sector.
READ MORE: <a href="https://www.benzinga.com/general/market-summary/25/02/43688600/exclusive-michael-saylors-mstr-linked-etfs-are-not-for-long-term-investors-say-crypto-experts-they-also-double-the-potential-loss">[Exclusive] Michael Saylor&#8217;s MSTR-Linked ETFs Are &#8216;Not For Long-Term Investors&#8217; Say Crypto Experts: &#8216;…They Also Double The Potential Loss&#8217;</a>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

GameStop Stock Surges Over 8% In Friday Pre-Market: What's Going On?

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Earnings

GameStop Discloses Third Quarter 2024 Results

Glancy Prongay & Murray LLP Announces Investigation of GameStop Corp. (GME)

GameStop Announces Plan to Pursue a Sale of French and Canadian Operations

Zip Announces Partnership with GameStop

ALBT

BNOX

CRDL

ELAB

GOOG

ILLR

MYRG

PETV

PRSO

RDDT

RJDG

TBLA

THAR

ZVSA

Best Buy Co

Smart Share Global Limited - American Depositary Shares

Smart Share Glb

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ATRenew Inc. American Depositary Shares (every three of which representing two Class A ordinary shares)

ATRenew

Wedbush

Gamestop

Screenshot 2024-07-29 at 5.41.27 PM

Options

CBOE

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