DeFi Daily News
Monday, July 7, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home Markets Stock Market

rewrite this title GameStop shares tank more than 20% as retailer reveals convertible debt offering, trading cards plan

Yun Li by Yun Li
June 12, 2025
in Stock Market
0 0
0
rewrite this title GameStop shares tank more than 20% as retailer reveals convertible debt offering, trading cards plan
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

A Gamestop store is seen in Union Square on April 4, 2025 in New York City. 

Michael M. Santiago | Getty Images

GameStop shares slid Thursday after the video game retailer announced plans for a $1.75 billion convertible notes offering to potentially fund its new bitcoin purchase strategy. The company also said it would turn its focus toward the trading card market.

The retailer said it intends to use the net proceeds from the note offering for general corporate purposes, “including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions.”

Part of the investment policy is to add cryptocurrencies to its balance sheet. Last month, GameStop bought 4,710 bitcoins, worth more than half a billion dollars.

The stock ended Thursday’s trading down 22.5%.

Stock Chart IconStock chart icon

GameStop

GameStop is following in the footsteps of software company MicroStrategy, now known as Strategy, which bought billions of dollars worth of bitcoin in recent years to become the largest corporate holder of the flagship cryptocurrency. That decision prompted a rapid, albeit volatile, rise for Strategy’s stock.

Strategy has issued various forms of securities including convertible debt to fund its bitcoin purchases.

CEO Ryan Cohen recently said GameStop’s decision to buy bitcoin is driven by macro concerns as the digital coin, with its fixed supply and decentralized nature, could serve as protection against certain risks.

The brick-and-mortar retailer reported a decline in fiscal first-quarter revenue on Tuesday as demand for online gaming rose. Its revenue dropped 17% year over year to $732.4 million. 

The shares fell 5% on Wednesday after those results. Wall Street appears uncertain the video game retailer can mimic the success of MicroStrategy.

Wedbush analyst Michael Pachter reiterated his underperform rating on GameStop on Wednesday, saying the meme stock has consistently capitalized on “greater fools” willing to pay more than twice its asset value for its shares. The Wedbush analyst believes the bitcoin buying strategy makes little sense as the company, already trading at 2.4 times cash, isn’t likely to drive an even greater premium by converting more cash to crypto.

Separately, Cohen said on Thursday at the company’s annual meeting that GameStop is focusing on trading cards as “a natural extension” of its existing business, according to a transcript on FactSet. He said that this market is embedded in physical retail and has “high margin potential.”

GameStop’s collectibles revenue in the first quarter surged 54% on a year-over-year basis, driven by growing demand for trading cards – in particular, the Pokémon Trading Card Game, the company said.

Data tracker Circana said its March Omnibus survey revealed that 19% of adults have purchased Pokémon trading cards for themselves in the past six months.

The majority are collecting the cards as a hobby or for decoration, Circana said. The firm added that adults have been helping to boost toy sales, with the demographic accounting for the highest spending among all age groups in the first quarter. 

—CNBC’s Christina Cheddar Berk contributed reporting.

Correction: GameStop shares fell 5% on Wednesday. An earlier version misstated the percentage.

Don’t miss these insights from CNBC PRO

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: cardsConvertibleDebtGameStopOfferingPlanretailerRevealsrewriteSharesTanktitleTrading
ShareTweetShare
Previous Post

rewrite this title Frank named new Tottenham head coach – Soccer News

Next Post

Jaguars HC Gives Update On Travis Hunter’s Historic Camp | Pat McAfee Show

Next Post
Jaguars HC Gives Update On Travis Hunter’s Historic Camp | Pat McAfee Show

Jaguars HC Gives Update On Travis Hunter's Historic Camp | Pat McAfee Show

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title EIP-7983: Vitalik’s Plan to Keep Ethereum Blocks Balanced

rewrite this title EIP-7983: Vitalik’s Plan to Keep Ethereum Blocks Balanced

July 7, 2025
rewrite this title From Cyclical Volatility To Strategic Resilience: Why AdvanSix Deserves A Second Look

rewrite this title From Cyclical Volatility To Strategic Resilience: Why AdvanSix Deserves A Second Look

July 7, 2025
rewrite this title and make it good for SEORed Dot raises 0m third fund

rewrite this title and make it good for SEORed Dot raises $320m third fund

July 7, 2025
rewrite this title Rosie O’Donnell Praises Rachel Zegler’s Stunning Performance In Evita | Celebrity Insider

rewrite this title Rosie O’Donnell Praises Rachel Zegler’s Stunning Performance In Evita | Celebrity Insider

July 7, 2025
rewrite this title Hangzhou, home to DeepSeek and Alibaba, has become a hub for Chinese AI startups, with the suburb Liangzhu emerging as a hotspot for coders in their 20s and 30s (Meaghan Tobin/New York Times)

rewrite this title Hangzhou, home to DeepSeek and Alibaba, has become a hub for Chinese AI startups, with the suburb Liangzhu emerging as a hotspot for coders in their 20s and 30s (Meaghan Tobin/New York Times)

July 7, 2025
rewrite this title Nationals fire manager Dave Martinez, GM Mike Rizzo in major shakeup

rewrite this title Nationals fire manager Dave Martinez, GM Mike Rizzo in major shakeup

July 7, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.