Shares of GameStop Corp (NYSE:GME) are trading marginally lower Tuesday afternoon, pausing after a rally on Monday that was fueled by a powerful surge in the cryptocurrency market. The stock’s modest pullback reflects a cooling-off period after being lifted by Bitcoin’s (CRYPTO: BTC) record-breaking performance.
What To Know: On Monday, GameStop shares climbed as Bitcoin rocketed to a new all-time high above $123,000. As a corporate holder of Bitcoin in its treasury, the video game retailer’s stock directly benefited from the broad enthusiasm for digital assets, showcasing its increasing correlation with the crypto space.
The rally provided a dose of positive sentiment for the company, which has also been in headlines for a charity auction of an infamous stapler. CEO Ryan Cohen added a personal touch, promising to personally deliver the item if bidding exceeds $1 million.
This unconventional approach contrasts sharply with the negative investor reaction last month to GameStop’s $1.75 billion convertible note announcement. Analysts criticized that move as financial engineering to fund more Bitcoin purchases while distracting from struggling retail operations.
In the near term, the stock’s performance will likely remain a battleground between crypto-driven optimism and concerns over its fundamental business.
Benzinga Edge Rankings: According to Benzinga Edge rankings, GameStop presents a complex profile for investors. The stock earns an exceptional Growth score of 99.35, placing it in the top percentile and signaling very strong expansion in its underlying business metrics compared to its peers.
In stark contrast, its Momentum score is a low 19.98, indicating weak recent price action and suggesting the stock is currently in a short-term downtrend. Meanwhile, GME’s Value score is a neutral 49.37, suggesting that its current market price is considered fair and that the stock is neither a significant bargain nor overly expensive.
Price Action: According to data from Benzinga Pro, GME shares are trading lower by 1.07% to $23.45 The stock has a 52-week high of and a 52-week low of
How To Buy GME Stock
By now you're likely curious about how to participate in the market for GameStop – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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