GameStop Embraces Bitcoin, Sees Stock Soar

In a bold move that caught the attention of investors worldwide, GameStop Corp. announced the unanimous approval by its board to add Bitcoin to its strategic financial holdings. This decision, coupled with the company's latest earnings report, has sent its shares skyrocketing by over 13% in premarket trading.

Strong Earnings Beat Expectations

The video games and entertainment products retailer also shared its fourth-quarter earnings, showcasing a net income of $131.3 million and diluted earnings per share of $0.29. This performance not only marks an improvement from the previous year's $0.21 per share but also exceeds analysts' forecasts, further fueling the stock's surge.

Stock Performance Highlights

At 8:25 am ET, GameStop's stock was trading at $28.82 per share, reflecting a 13.46% increase. This significant jump underscores the market's positive reception to GameStop's strategic initiatives and financial health.