Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

GameStop, MicroStrategy shares rise after Ryan Cohen posts photo with Michael Saylor

by admin February 11, 2025
February 11, 2025
GameStop, MicroStrategy shares rise after Ryan Cohen posts photo with Michael Saylor

Shares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin.

GameStop, day traders’ favorite meme stock, climbed more than 7%, while MicroStrategy, which recently rebranded as “Strategy,” saw shares rising as much as 4%. Cohen uploaded the photo over the weekend on X, sparking speculation that GameStop is plotting another strategy around crypto. MicroStrategy shares last traded up 1%.

The video game company had expanded into digital services in recent years by offering crypto wallets that let users manage their crypto and nonfungible tokens. However, the firm shut the service down in 2023, citing “regulatory uncertainty.”

Cohen, co-founder of Chewy, bought shares in GameStop in 2020 and joined the board in 2021 as GameStop became one of the key stocks in the WallStreetBets meme trading mania.

His e-commerce experience fueled hopes that he could help modernize the brick-and-mortar retailer, but the company still struggles to adapt to changing spending habits by gamers. Trading in the stock remains highly volatile and speculative as meme stock personality “Roaring Kitty” continues to spur buying from retail investors.

Saylor’s Strategy also has a fan base of retail investors as the firm touted its aggressive bitcoin-buying strategy. In the past year, the firm has raised billions of dollars through the sale of stock or convertible bonds for the sole purpose of purchasing more bitcoin.

Last week, Strategy said it’s almost halfway to its ambitious capital-raising goal as it went on a buying spree throughout the postelection rally. As of Monday, Strategy holds roughly $47 billion worth of bitcoins on its balance sheet, about 2.5% of the total supply.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
McDonald’s revenue disappoints as U.S. sales see worst drop since pandemic
next post
Panelists: Gold “Essential” to Own as Volatility Rises and Reserves Diminish

Related Posts

Judge says he must still approve sale of...

November 26, 2024

Joann to shutter all 800 fabric stores after...

February 26, 2025

Union Pacific to buy Norfolk in $85 billion...

July 30, 2025

Ontario to remove U.S. alcohol from shelves after...

February 4, 2025

Trump-branded wireless service launches — with a gold...

June 18, 2025

Warren Buffett gives away another $5.3 billion, says...

June 29, 2024

Collapse of fintech firm with 10M users leaves...

May 24, 2024

Mattel pulls thousands of ‘Wicked’ dolls off shelves...

November 13, 2024

Federal student loans this fall will have the highest interest...

May 15, 2024

Savings drained and living off $2,400 a month,...

July 19, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Social Security is 90 years old. We are making it smarter, better, faster under Trump

      August 15, 2025
    • Trump admin unveils groundbreaking tool ‘supercharging’ gov’t efficiency to ‘win the race’ for AI dominance

      August 15, 2025
    • Armenia and Azerbaijan leaders seek to ease Russian and Iranian concerns after US-brokered peace deal

      August 15, 2025
    • American history won’t be displayed ‘in a woke manner’ at Smithsonian, Trump says

      August 15, 2025
    • The Nuclear Nexus: Powering the Clean Energy Transition and the AI Revolution

      August 15, 2025

    Categories

    • Business (1,064)
    • Investing (2,833)
    • Politics (3,473)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved