Core Viewpoint - GameStop is considering investments in bitcoin and other cryptocurrencies as part of its strategy to explore alternative asset classes, which has led to a significant increase in its stock price [1][2]. Group 1: Investment Considerations - GameStop is in the process of evaluating whether investing in cryptocurrencies aligns with its business model, with no final decision made yet [2]. - The company previously launched crypto wallets in 2022 but discontinued the service in 2023 due to regulatory uncertainties [3]. - Under the leadership of CEO Ryan Cohen, GameStop has focused on cost-cutting and operational efficiency, accumulating a cash reserve of $4.6 billion for potential investments [4]. Group 2: Market Context - Other companies, like MicroStrategy, have successfully integrated bitcoin into their balance sheets, transforming their business models and stock performance [5]. - GameStop's board approved a new investment policy in December 2023, allowing specific members to manage the company's investment portfolio, with strict guidelines for any investments [6].

Core Viewpoint - GameStop (GME) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system reflects changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for GameStop suggest an improvement in the company's underlying business, likely leading to increased stock prices [5][10]. Recent Performance and Projections - GameStop is projected to earn $0.08 per share for the fiscal year ending January 2025, representing a year-over-year increase of 33.3% [8]. - Over the past three months, the Zacks Consensus Estimate for GameStop has surged by 200% [8]. Zacks Rating System - The Zacks Rank system categorizes stocks based on earnings estimate revisions, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating [9][10]. - GameStop's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Group 1 - Cryptocurrencies themed on GameStop Corp. experienced significant gains, with Ethereum-based GameStop rising nearly 50% in 24 hours and trading volume increasing by 37% to $1.83 million [1] - Solana-based GmeStop also saw a rise of over 3% in the last 24 hours, indicating a broader interest in cryptocurrencies linked to GameStop despite their indirect connection to the company [2] - The recent uptick in cryptocurrency prices was influenced by CEO Ryan Cohen's social media post with Strategy co-founder Michael Saylor, leading to speculation about potential Bitcoin investments by GameStop [3] Group 2 - GameStop has maintained popularity as a retail stock, particularly following the 2021 meme stock phenomenon, with notable influence from figures like Keith Gill, who has been active on social media [4] - GameStop's stock price increased by 9.66% to $27.12 during regular trading and saw a further rise of 0.99% in after-hours trading, reflecting positive market sentiment [4]

Core Insights - GameStop shares surged over 9% on Monday, closing at $27.15, marking the highest closing price this month, following a photo posted by CEO Ryan Cohen with Bitcoin investor Michael Saylor [1][2][3] - Despite the recent surge, GameStop's stock is down 13% year-to-date and has experienced a 16% decline over the past month [3][6] Company Developments - The share price increase is linked to speculation regarding GameStop's potential cryptocurrency strategy, as the company has previously ventured into the cryptocurrency space, including a now-defunct cryptocurrency wallet launched in 2022 [2][6] - GameStop's stock has been volatile, having surged 85% in a turbulent trading year in 2024, with a notable peak of $48.75 last year [6] Market Context - MicroStrategy, the company co-founded by Saylor, also saw a stock increase of over 2% on Monday, with shares up 15% since the beginning of the year [4] - Saylor's net worth is estimated at $8.5 billion, reflecting a $111 million increase on the same day GameStop shares surged [5]

Key TakeawaysShares of GameStop and MicroStrategy each jumped Monday morning following a social media post over the weekend.GameStop CEO Ryan Cohen posted a picture early Saturday of himself with MicroStrategy cofounder Michael Saylor, sparking speculation over GameStop's potential crypto plans.MicroStrategy, which last week said it was rebranding itself to Strategy, also bought more Bitcoin over the last week. Shares of GameStop (GME) and MicroStrategy (MSTR)—which last week rebranded itself as Strategy—ea ...

GameStop and MicroStrategy shares popped on Monday on speculation that the struggling video game retailer might embrace crypto.The famed meme stocks boss Ryan Cohen posted a photo over the weekend with MicroStrategy CEO Michael Saylor, whose firm is the largest corporate holder of bitcoin.GameStop stock jumped 7% on Monday and MicroStrategy shares rose 2%. 3 Michael Saylor (left) and Ryan Cohen (right). X/Ryan CohenGameStop and MicroStrategy did not immediately respond to requests for comment.The flailing ...

In this articleMSTRGMETraders work underneath GameStop Corp. signage on the floor of the New York Stock Exchange (NYSE) in New York, US, on Friday, June 7, 2024. Michael Nagle | Bloomberg | Getty ImagesShares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin.GameStop, day traders' favorite meme stock, climbed 3.5% in premarket trading, while MicroStrate ...

GameStop Corp. (GME) , the original “meme stock” that ignited a social media-fueled trading frenzy, remains a hot topic on Wall Street. Despite ongoing volatility and questions about its long-term fundamentals, the stock continues to trade at a premium, supported by retail investor enthusiasm. With GME still drawing speculative interest, investors face a key decision: Is it worth buying at current levels, holding for potential upside or selling before sentiment shifts?The video game retailer is currently tr ...

GameStop (GME) closed the most recent trading day at $27.51, moving +0.18% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.47%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 0.51%.The video game retailer's shares have seen a decrease of 12.38% over the last month, not keeping up with the Consumer Discretionary sector's gain of 2.51% and the S&P 500's gain of 1.67%.Investors will be eagerly watching for the perfor ...

More than 2 million GME calls have been traded over the last 2 weeksRetail giant GameStop Corp (NYSE:GME) is having a challenging start to 2025, with shares down 13% so far in January. Despite the rough patch, options traders appear undeterred, maintaining a bullish outlook on the former meme stock.In fact, GameStop stock made its way onto Schaeffer's Senior Quantitative Analyst Rocky White's list of S&P 400 stocks with the highest options volume over the past 10 days. During this period, a staggering 2,023 ...