The Gamestop equity price continues to flow after $ 512 million Bitcoin Buy

The action of the prominent Gamestop video game retailer dropped for the second consecutive day after the company announced its First of all bitcoin buy Over $ 500 million Wednesday morning.

GME ended the negotiation day down more than 5% to $ 29.57 per share, diving further after a Almost 11% of daily decrease At the end of the negotiation day on Wednesday. The title listed at the Nasdaq has lost most of its weekly gains, now more than 1% over this period.

The Gamescop action course appeared just under $ 36 at Wednesday, the highest price recorded in almost a year since GME has briefly increased to $ 48 in June 2024 when the influencer of the same Keith Gill shares (Aka Roare Kitty) made his return.

The company has now seen this type of volatility linked to Bitcoin several times. The Gamestop stock price increased at the end of March when he initially disclosed his plans to add Bitcoin as an actor of the treasure, but fell shortly after when the company announced its intention to Raise up to $ 1.5 billion To buy BTC rather than drawing on its cash reserves.

While GME was down on Thursday, the stock market indices was largely green, although slightly. The Nasdaq and the S&P 500 have both finished approximately 0.4%, the market digesting major news as an American commercial court push the prices of President Trump– Although a court of appeal has Since he intervened– and an economic report showing a contraction in GDP.

The continuous decline in Gamestop’s price in the last two days has occurred while Bitcoin himself has trouble keeping recent gains after setting a new price at high level last Thursday.

After having culminated at a new summit of $ 111,814 on May 22, the price of Bitcoin has gradually dropped, now dropped by more than 5% since then to a current note of $ 105,957. Other major assets such as Solana, XRP and Dogecoin have fallen harder in the last seven days, while Ethereum is down less than 1% during this period.

GameStop announced early Wednesday that he had acquired 4,710 bitcoin, worth $ 512 million at the time and around $ 499 million during the drafting of this article.

The company has raised just under $ 1.5 billion to put Bitcoin Treasury initiative, and CEO Ryan Cohen said During a video interview at the Bitcoin 2025 conference on Wednesday that the company “will not call our photos in advance” concerning future BTC.

StrategyThe largest holder of the Bitcoin corporate treasury with more than $ 61 billion in Bitcoin, was the pioneer of the model that GameStop follows. He has propelled strategy actions (MSTR) to new heights in recent months and has helped stimulate many other small businesses that have adopted their own cryptographic strategies in recent months.

Gamestop investors, however, do not seem as enthusiastic about the last cryptographic embrace of the retailer – at least so far.