Why Shares of GameStop Are Tanking Today

Shares of the video game retailer (NYSE: GME) had tanked roughly 19%, as of 10:18 a.m. ET today. The company announced plans to issue $1.75 billion in convertible notes for "general corporate purposes, including making investments in a manner consistent with GameStop's Investment Policy and potential acquisitions."

While GameStop in its press release did not specifically say that it would use the proceeds of the offering to buy more Bitcoin, the world's largest cryptocurrency, many suspect this is the plan and GameStop's investment policy now includes purchasing more Bitcoin.

Image source: Getty Images.

Source Fool.com

Gamestop Corp. Aktie

Gamestop Corp. muss heute Verluste wegstecken. Die Aktie notiert im Vergleich zu gestern um -2,34 % tiefer.
Die Meinungen sind geteilt: Genauso viele Buy- wie Sell-Einschätzungen bei der Gamestop Corp. Aktie mit 2 zu 1.
Das Kursziel von 11 € liegt unter dem aktuellen Kurs von 20.86 € für Gamestop Corp., führt aber zu einem negativen Potenzial von -47.27%.

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