GameStop Reports Smaller Loss in Q2 Thanks to Bitcoin Holdings Boosting Balance Sheet
Simply put GameStop reported holding 4,710 BTC on its balance sheet, valued at $528.6 million, with an unrealized profit of $28.6 million. Net losses decreased from a profit of $44.8 million in the first quarter to a loss of $18.5 million. Revenue fell from $732.4 million to $673.9 million, but operational costs dropped, thanks to […]
A GameStop Customer Made $115K in Bitcoin from a $13 Card Pack
Simply put The collector recently made a significant gain from a $13 card he bought at GameStop, walking away with a single Bitcoin. This card came from the Cardsmiths’ Currency series, which has cards that can be redeemed for actual cryptocurrency. It marks at least the third instance of someone redeeming 1 Bitcoin from this […]
Unknown buyer paid $250,000 for broken Nintendo and GameStop CEO’s underwear.
They Did It for Larz A notable pair of Crypto enthusiasts spent a staggering $250,000 on a broken Nintendo Switch and even used underwear from GameStop’s CEO during a charity auction in New York City, aimed at raising funds for a children’s hospital. The duo, who chose to remain anonymous for safety reasons, emphasized the […]
GameStop Increases Convertible Bond Offering to $2.25 Billion
Simply put GameStop has increased its latest offering of convertible senior notes from $1.75 billion to $2.25 billion. GameStop shares remained steady on Friday, though they dropped 24% over the past week. Last month, GameStop purchased 4,710 Bitcoin. GameStop announced it has upsized its offering of Convertible Senior Notes from $1.75 billion to $2.25 billion. […]
GameStop shares plummet 15% as pivot to bitcoin alarms investors
GameStop stock fell more than 15% on Thursday after Bitcoin Pivot's funding plan raised questions about the timing of its move and strategies to turn the struggling retail business around. The video game retailer's stock also gave up all profits from a day ago, and was on track for the biggest one-day fall since last […]
GameStop plans to invest in bitcoin, close ‘significant number’ of stores
GameStop said Tuesday that its board unanimously approved the addition of Bitcoin as a Treasury protected asset. GameStop shares rose 7% to $27.23 in after-hours trading. The decision reflects the reaction of Bitcoin's biggest business owner, and in February it dropped the word “micro” from its name and unveiled a new logo to highlight its […]
Billionaire GameStop CEO Ryan Cohen boosts stake in Alibaba to $1B: report
Billionaire investor Ryan Cohen has increased his personal interests with Chinese e-commerce giant Alibaba Group to about $1 billion in recent months. Reported by the Wall Street Journal On Thursday, I quote people who are familiar with the issue. Cohen's position represents approximately 7 million shares, the report said. GameStop CEOs Alibaba and Cohen did […]
GameStop CEO decries 'wokeness and DEI' as company seeks to sell Canadian and French operations
GameStop CEO Ryan Cohen downplayed “Wokeness and Dei” as video game retailer Giant is about to sell its operations in France and Canada. company It was announced in Tuesday's release As part of its “valuation of international assets,” GameStop “will be pursuing a divestment of its operations in France and Canada.” On the same day, […]
GameStop, MicroStrategy shares jump on photo of Ryan Cohen, Michael Saylor
Shares of GameStop and MicroStrategy popped on Monday on speculation that struggling video game retailers could accept Crypto. Famous memes stock boss Ryan Cohen Photos have been posted Over the weekend, along with MicroStrategy CEO Michael Saylor, the company is Bitcoin's biggest corporate holder. GameStop shares rose 7% on Monday, while MicroStrategy shares rose 2%. […]
GameStop boss Ryan Cohen gearing up for PR blitz
Chewy founder Ryan Cohen has gained a cult following in the meme stock community for his efforts to save video game retailer GameStop. GameStop has been a frequent target of short sellers, and its stock price has skyrocketed, contrary to smart money expectations. Try not to go bankrupt. Yet, aside from the occasional insensitive social […]