GameStop plans to open a store in Union Square, NYC, on April 4, 2025, amid a strategy shift towards cryptocurrency and trading cards. The company has announced a $1.75 billion convertible note to finance Bitcoin purchases, following a recent acquisition of 4,710 Bitcoin worth over $500 million. However, GameStop’s stock fell more than 23% after these announcements, with a 5% decline noted previously due to a 17% year-on-year revenue drop, totaling $732.4 million.
CEO Ryan Cohen emphasized that investing in Bitcoin could protect against economic risks, while analysts express skepticism about the strategy’s efficacy. Additionally, GameStop is expanding into trading cards, particularly Pokémon, which has seen increased demand among adults. This shift aims to enhance physical retail margins and boost sales in a competitive environment.
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