Reported 25 days ago
GameStop's stock dropped nearly 25% following the company's announcement to raise $1.3 billion through convertible senior notes to invest in Bitcoin. This decision came after a previous uptick in their share value due to news of an updated investment policy to include Bitcoin as a treasury reserve. Analysts are skeptical about the success of this strategy, likening it to MicroStrategy's approach, while GameStop's financial performance continues to decline.
Source: YAHOO