GameSquare Holdings, Inc. (NASDAQ:GAME) shares ripped nearly 38% in Tuesday's after-hours trading ahead of a planned conference call to discuss its $100 million Ethereum (CRYPTO: ETH) treasury strategy.
What Happened: The company said it will host a listen-only conference call on Wednesday featuring CEO Justin Kenna, Dialectic founder Ryan Zurrer and Rhydon Lee of Goff Capital.
GameSquare's board greenlighted a proposal last week to invest up to $100 million to build an Ethereum-based treasury. The strategy aims to generate sustainable, risk-adjusted yield through decentralized finance protocols and Ethereum ecosystem assets.
This initiative is backed by a strategic partnership with Dialectic, a company focused on crypto-native capital management.
See Also: Bitcoin Slides Amid Uncertainty On Crypto Bills; Ethereum, Dogecoin Gain: ETH Dominance Needs To ‘Convincingly Break’ 10% For Bullish Bias, Says AnalystFor Breakout As Stablecoins Become ‘ChatGPT Moment’ For Wall Street And Crypto
Price Action: At the time of writing, ETH was exchanging hands at $3,144.29, up 5.85% in the last 24 hours, according to data from Benzinga Pro.
Shares of GameSquare surged 38.4% in after-hours trading after closing 9.04% at $1.510 during Tuesday's regular trading session.
GAME demonstrated a very high Momentum score—a measure of a stock’s relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing.
Use Benzinga Edge Stock Rankings to find out how it compares against Bitcoin (CRYPTO: BTC) treasury company Strategy Inc. (NASDAQ:MSTR).
Photo Courtesy: VPLAB On Shutterstock.com
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