GameStop Stock Flys 10% Bitcoin Investments

GameStop Stock Flys 10% Bitcoin Investments 

GameStop Stock soars 10% on Speculation that GameStop could be investing into the cryptocurrency Bitcoin!

 GameStop (GME) rose about 10% in after hours trading on Thursday after CNBC reported the video game retailer is exploring investing in cryptocurrencies, including bitcoin (BTCUSD).

CNBC specified the company may not follow through with the investments and is still exploring the option. The stock jumped as much as 20% after the bell before giving back some gains.

Bitcoin Social Media

A social media post from GameStop CEO Ryan Cohen over the weekend sparked speculation over GameStop's interest in cryptocurrency. Cohen posted a picture on X with Strategy CEO Michael Saylor early Sunday morning. 

Saylor rebranded his company Strategy, formerly known as Microstrategy, it now holds more than 447,000 bitcoins. 

Resistance

$50

Target Price

$80

Support

$20