GameStop shares surge on plan to enter NFT, crypto markets
GameStop declined to comment. The Wall Street Journal first reported the news citing people familiar with the matter. The video game retailer is undergoing a revamp, with Chairman Ryan Cohen tapping executives from companies including Amazon.com Inc to turn GameStop away from brick-and-mortar and towards e-commerce.
GameStop wants to sell you NFTs
The video game retailer GameStop is reportedly getting into the nonfungible token (NFT) business. The company has hired 20 people to develop and launch an NFT marketplace for video games and strike cryptocurrency deals with video game studios and publishers, the Wall Street Journal reported on Jan. 6. GameStop shares rose 23% in premarket trading.
GameStop closes 7% higher on report of NFT marketplace
GameStop’s (GME) stock surged as much as 20% during Friday’s session and closed 7% higher. The upward move followed a news report that the video game retailer is launching a marketplace for non-fungible tokens (NFTs).
Why AMC Stock Is Plunging 16% This Week
Shares of AMC Entertainment Holdings (NYSE: AMC) have fallen 16% so far this week, according to data provided by S&P Global Market Intelligence. There was no specific company news that would have driven this sell-off, so it is likely the selling pressure came after the release of the minutes from the recent Federal Reserve meeting and with the continued bleed-out of meme stocks over the past few months. On Wednesday of this week, the Federal Reserve released notes from its December meeting.
As GameStop Looks to Grow Its Model, Here’s a Trading Idea
Late Thursday, the Wall Street Journal broke the news that (former) meme stock company GameStop plans to launch a division that will develop a marketplace for NFTs (non-fungible tokens) and establish cryptocurrency partnerships. The report say that GameStop has hired more than 20 folks who will run this separate unit, and build an online hub for trading NFTs that have something to do with video game related or virtual goods. GameStop has supposedly asked some game developers to list NFTs on the firm’s marketplace once it is operational.
Here’s Why Roku Stock Is Already Down 15% in 2022
Is Roku (NASDAQ: ROKU) stock grossly overvalued? This is partly why, as of the market’s close on Thursday, Roku is down 15.1% for 2022. According to The Fly, Atlantic Equities analyst Hamilton Faber started covering Roku stock earlier this year.
GameStop jumps on setting up NFT trading hub, crypto pact
(Reuters) -GameStop Corp’s plans to expand its non-fungible tokens (NFTs) marketplace and partner with crypto firms spurred a rally in the video game retailer’s shares on Friday. The company was last year at the center of a battle between small investors coordinating on online forums and Wall Street hedge funds, leading to massive gains in its shares. On Friday, GameStop rose 14% as a report that it would build an online hub for trading NFTs for virtual game collectibles and establish cryptocurrency partnerships revived interest in its shares on social media and trading forums.