GameStop Embraces Bitcoin in Strategic Move

In a bold strategic shift, GameStop Corp. has announced the addition of Bitcoin to its financial reserves, sparking a 13% surge in its stock during premarket trading. This decision, unanimously approved by the board, marks a significant pivot for the video games and entertainment products retailer.

Strong Q4 Earnings Beat Expectations

Complementing this news, GameStop reported impressive fourth-quarter earnings, with net income reaching $131.3 million and diluted earnings per share at $0.29. These figures not only represent an increase from the previous year's $0.21 per share but also surpassed analysts' forecasts, further fueling investor enthusiasm.

By 8:25 am ET, GameStop's stock had climbed 13.46%, trading at $28.82 per share, as the market reacted positively to these developments.