GameStop shares jumped roughly 15% on Wednesday after the company announced plans to adopt Bitcoin and continue shuttering retail locations, according to Axios. The company reported a 28% drop in revenue for the fiscal year 2024 and closed over 900 stores, with more closures expected this year. The board unanimously approved the updated investment strategy, which mirrors MicroStrategy’s Bitcoin strategy. GameStop’s move aims to appeal to crypto-enthusiastic investors.
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00:00It's Benzinga bringing Wall Street to Main Street. GameStop shares jumped roughly 50%
00:04on Wednesday after the company announced plans to adopt Bitcoin and continue shuttering retail
00:08locations, that according to Axios. The company reported a 28% drop in revenue for the fiscal
00:13year 2024 and closed over 900 stores, with more closures expected this year. The board unanimously
00:19approved the updated investment strategy, which mirrors MicroStrategy's Bitcoin strategy.
00:24GameStop's move aims to appeal to crypto-enthusiastic investors.
00:27For all things money, visit Benzinga.com.