GameStop's stock is in play again. This time it's not a meme thing.
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GameStop's stock is experiencing a resurgence, climbing 1.6% towards a four-month high, driven by the rising price of bitcoin, which recently hit record levels. Earlier this year, GameStop's board approved adding bitcoin as a treasury-reserve asset, aligning with CEO Ryan Cohen's interest in cryptocurrency. Despite past meme-stock volatility, GameStop has reported its third consecutive quarterly profit, ending the last quarter with $4.775 billion in cash and equivalents. Year-to-date, GameStop shares are down 1.5%, while bitcoin has surged 18.83%.
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