GameStop Corp. (NYSE:GME) reported a 3.44% increase in its cash holdings during the fourth quarter. It reported a mixed quarter and announced that its board has unanimously agreed to add Bitcoin (CRYPTO: BTC) as a treasury reserve asset.
What Happened: GameStop reported cash, cash equivalents, and marketable securities worth $4.775 billion at the close of the fourth quarter, which represented a 3.44% increase from $4.616 billion in the third quarter.
The company also announced adding Bitcoin as a reserve asset to its portfolio, confirming the February speculation when the stock had surged after the video game retailer’s chairman and CEO, Ryan Cohen, posed with Michael Saylor.
However, Wedbush Securities’ managing director of equity research, Michael Pachter, told Yahoo Finance that if GME is valued like a BTC treasury company akin to Saylor’s Strategy Inc. (NASDAQ:MSTR), the company’s stock would have to decline.
He described GME as “a rich man’s MicroStrategy,” adding that “if you want to pay even more for even less, you …
Full story available on Benzinga.com
GameStop Corp. (NYSE:GME) reported a 3.44% increase in its cash holdings during the fourth quarter. It reported a mixed quarter and announced that its board has unanimously agreed to add Bitcoin (CRYPTO: BTC) as a treasury reserve asset.
What Happened: GameStop reported cash, cash equivalents, and marketable securities worth $4.775 billion at the close of the fourth quarter, which represented a 3.44% increase from $4.616 billion in the third quarter.
The company also announced adding Bitcoin as a reserve asset to its portfolio, confirming the February speculation when the stock had surged after the video game retailer’s chairman and CEO, Ryan Cohen, posed with Michael Saylor.
However, Wedbush Securities’ managing director of equity research, Michael Pachter, told Yahoo Finance that if GME is valued like a BTC treasury company akin to Saylor’s Strategy Inc. (NASDAQ:MSTR), the company’s stock would have to decline.
He described GME as “a rich man’s MicroStrategy,” adding that “if you want to pay even more for even less, you …
Full story available on Benzinga.com
GameStop Corp. (NYSE:GME) reported a 3.44% increase in its cash holdings during the fourth quarter. It reported a mixed quarter and announced that its board has unanimously agreed to add Bitcoin (CRYPTO: BTC) as a treasury reserve asset.
What Happened: GameStop reported cash, cash equivalents, and marketable securities worth $4.775 billion at the close of the fourth quarter, which represented a 3.44% increase from $4.616 billion in the third quarter.
The company also announced adding Bitcoin as a reserve asset to its portfolio, confirming the February speculation when the stock had surged after the video game retailer’s chairman and CEO, Ryan Cohen, posed with Michael Saylor.
However, Wedbush Securities’ managing director of equity research, Michael Pachter, told Yahoo Finance that if GME is valued like a BTC treasury company akin to Saylor’s Strategy Inc. (NASDAQ:MSTR), the company’s stock would have to decline.
He described GME as “a rich man’s MicroStrategy,” adding that “if you want to pay even more for even less, you …Full story available on Benzinga.com Read More$BTC, Analyst Color, Bitcoin, Bitcoin Treasury, Cryptocurrency, Equities, GME, Michael Pachter, Michael Saylor, MSTR, News, QQQ, Ryan Cohen, SPY, Video Game, Markets, Analyst Ratings, General, SPY, US78462F1030, MSTR, US5949724083, GME, US36467W1099, QQQ, US73935A1043, $BTC, News, Analyst Color, Equities, Cryptocurrency, Markets, Analyst Ratings, General, Benzinga Markets
