Gamestop Corp. (NYSE: GME) is a noticeable increase in the price of its share during the pre -market trading on Wednesday after the retailers of games and electronics announced the purchase of 4,710 Bitcoins.
Gamestop shares increased by more than 6.5 % in pre -market trading before some of these gains are shortened.
In the last examination, the stock increased by approximately 3 % from the market open.
Gamestop has purchased 4,710 Bitcoin.
This step puts the Gamestop between an increasing list of major companies that diversify their asset holdings by investing directly in Bitcoin (BTC).
Gamestop strategic turning into encryption assets
Gamestop’s decision to obtain BTC reflects not only diversifying its investment portfolio but also a sign of confidence in the long -term feasibility of encrypted currencies.
While the exact value of the purchase has not been revealed, analysts view this acquisition as a strategic step by a company that historically rushed to mutating during the market disruption periods.
At the current price of BTC is about $ 108,000, the reservation value is more than $ 500 million.
The transition to Crypto Holdings can enhance the asset mix in Gamestop as it continues the efforts made to update its business model and re -set it to digital importance.
It is worth noting that the purchase of BTC follows earlier advertisement By the company to update its investment policy to add Bitcoin as the origin of the cabinet reserve.
Financial mode for Gamestop
From a financial point of view, Gamestop currently maintains a healthy public budget, with more money than debt, giving it flexibility to explore unconventional investments that can be rewarding.
according to InvestingPro dataThe company has a current percentage of 8.05, with a highlight of strong liquidity and operational efficiency.
This Gamestop position enables aggressive financial decisions such as investing in Bitcoin without undermining its basic operations.
Moreover, the company’s last stock performance reflects the increasing investor confidence, as the stock price achieved 24.81 % during the past week alone.
In addition, the purchase of Bitcoin comes shortly after Gamestop’s announcement of a price of $ 1.3 billion of convertible notes due in 2030.
These notes, which carry a 0.00 % interest rate, are converted to joint A.C. shares and are expected to provide financing for public companies, including encryption investments.
This financial maneuver clarifies Gamestop to reach capital while reducing the costs of debt service, which places itself for future innovation.
In addition, analysts at Wedbush Securities raised their shares to Gamestop to $ 13.50, while maintaining the “Outperform” classification and making notes as a major reason.
But despite the optimism of the market, Gamestop faces challenges on other fronts, including a lawsuit involving the CEO Ryan Cohen has an inligate alleged profit from Bed Bath & Beyond Trades.
The lawsuit was obtained on Cohen and RC projects that achieved $ 47.2 million of profits from the so-called “Siver-Soff” trading, which may require payment.
At the same way, Gamestop Canada is subjected to a major transformation by returning to the previous brand of EB games under new property by Stephen Tetrault.
This brand rename is designed to breathe a new life in the Canadian market and create a stronger customer experience throughout the region.
After Gamestop raises 4,710 Bitcoin with a value of more than $ 500 million, 3 % shares appeared on Invezz
