Reported 4 days ago
GameStop's stock fell over 8% in after-hours trading after the company announced plans to raise $1.3 billion to invest in Bitcoin through convertible senior notes. This announcement came a day after the stock rose nearly 12% when GameStop stated its board approved an investment policy update to include Bitcoin as a treasury reserve asset. Analysts remain skeptical about the effectiveness of this strategy, noting GameStop's changing business tactics over the years and the potential impact on its stock value.
Source: YAHOO