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GameStop slumps as its plan to sell debt to fund bitcoin purchases raises questions

Summary by Abc News

GameStop shares plunged Thursday after the company's plans to sell debt to fund purchases of bitcoin raised some questions on Wall Street

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Fast Company

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GameStop shares fall after Bitcoin investment plan

Shares of GameStop fell more than 15% on Thursday after the company’s plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business. The video game retailer’s shares also gave up all their gains from a day earlier and were on track for their biggest one-day fall since last June, after the company said it was offering $1.3 billion in 0% 2030 convertible bonds to amas…

4 days ago

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abc News

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GameStop slumps as its plan to sell debt to fund bitcoin purchases raises questions

GameStop shares plunged Thursday after the company's plans to sell debt to fund purchases of bitcoin raised some questions on Wall Street

4 days ago·United States

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coinsurges.com

Best Altcoins to Buy as GameStop Investor Suggests a $2.5B Bitcoin Investment - Coin Surges

We’re already looking for the best altcoins to buy after Vertical Research Advisory partner Kip Herriage pushed for GameStop to pour $2.5B into Bitcoin. Kip Herriage made his statement on Fox News, where he advised GameStop’s Ryan Cohen to invest at least half of their $5B into Bitcoin: ‘At least $2.5B should go into Bitcoin at this point. The problem that Ryan Cohen has is that he should’ve done these moves a year or two years ago, when Bitcoin…

2 days ago

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Peter Schiff Criticizes Gamestop’s Bitcoin Strategy Amid Decrease In Shares: ‘Smart Investors Are Capitalizing As Fools Rush Out’

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Renowned economist Peter Schiff slammed GameStop Corp.’s (NYSE:GME) Bitcoin (CRYPTO: BTC) investment strategy as the company’s shares nosedived on Thursday. What Happened: Schiff took to X, chiming in on the video game retailer’s pullback. “GME is now getting crushed. It’s down 22% on the day, down 26% from yesterday’s high,” the staunch Bitcoin…

3 days ago

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RetailWit

The Weekly Closeout: GameStop pays for CEO’s security, layoffs at Mattel – RetailWit

The gaming retailer paid nearly $270,000 last year for Ryan Cohen’s executive security, while the toy company laid off 120 workers at its headquarters.

3 days ago

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NewsBTC

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GameStop (GME) Down Bad After Bitcoin News — Here’s The Catch

GameStop (NYSE: GME) suffered a sharp 25% drop yesterday, a sudden downturn that followed a 16% rally on March 26. The catalyst? A bold decision by the gaming retailer’s board to establish a Bitcoin treasury—joining the ranks of MicroStrategy, Metaplanet, and other corporations. Initially, the news sent GME shares soaring, as investors viewed the move as a bullish signal. However, the stock quickly reversed course and now finds itself in turbule…

3 days ago

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