Gamestop (GME) shares fell almost 6% on Thursday when investors continued to sell the news of the company’s disclosure of its initial Bitcoin acquisitions.
The company on Wednesday morning said it had acquired 4,710 Bitcoin-a long-awaited step tied to its crypto-state box strategy revealed in March. At that time, the company launched a $ 1.3 billion capital increase to help fund BTC purchases.
Shortly after, the stock threw itself along with a steep fall in wider markets on Trump Liberation Day Tariff messages. However, shares, however, tied up with the markets in the middle of the month and rose more than 60% in the weeks until the Wednesday announcement.
The fall since – now approaching 20% - could be a little more than investors selling the news after the big race higher or could be investor grease with the company’s Bitcoin Treasury strategies that have apparently come up with one or more a day for several weeks.
In addition, Gamestop’s acquisition of “just” could be approx. $ 500 million Bitcoin (the dates and prices of the cows did not reveal) be a disappointment considering the company’s capital increase of $ 1.3 billion, not to name several billion dollars in free cash already in the balance. With a market capital of $ 14 billion, the company’s Bitcoin purchase was relatively modest.
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