Market Cap: $2.699T 0.040%
Volume(24h): $79.9185B 4.630%
  • Market Cap: $2.699T 0.040%
  • Volume(24h): $79.9185B 4.630%
  • Fear & Greed Index:
  • Market Cap: $2.699T 0.040%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top News
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
bitcoin
bitcoin

$84720.887476 USD

1.85%

ethereum
ethereum

$1882.087494 USD

2.47%

tether
tether

$0.999992 USD

0.02%

xrp
xrp

$2.103516 USD

-0.28%

bnb
bnb

$603.720228 USD

-0.90%

solana
solana

$124.907077 USD

-1.26%

usd-coin
usd-coin

$1.000009 USD

0.00%

dogecoin
dogecoin

$0.171794 USD

1.56%

cardano
cardano

$0.672517 USD

0.21%

tron
tron

$0.238010 USD

0.94%

toncoin
toncoin

$3.982310 USD

-4.11%

chainlink
chainlink

$13.782927 USD

0.53%

unus-sed-leo
unus-sed-leo

$9.409232 USD

2.25%

stellar
stellar

$0.268957 USD

0.85%

avalanche
avalanche

$19.348366 USD

1.29%

Cryptocurrency News Articles

GameStop Corp. (NYSE: GME) Faces Steep Decline in Sales and Profits, Shifting Focus to Bitcoin Investment

Mar 30, 2025 at 06:30 am

March 30, 2025 – GameStop Corp. (NYSE: GME) is facing a steep decline in sales and profits, raising concerns about its future in the struggling retail market. The company reported a 27% drop in sales for 2024, with operating profits plummeting by 94%. Despite the dismal performance

GameStop Corp. (NYSE: GME) Faces Steep Decline in Sales and Profits, Shifting Focus to Bitcoin Investment

March 30, 2024 – GameStop Corp (NYSE: GME) is facing a steep decline in sales and profits, raising concerns about its future in the struggling retail market. The company reported a 27% drop in sales for 2024, with operating profits plummeting by 94%. Despite the dismal performance, GameStop is shifting its focus towards cryptocurrency investment, with plans to create an investment committee led by CEO Ryan Cohen to explore opportunities in Bitcoin.

However, Wall Street analysts remain skeptical of the company’s new direction, forecasting significant downside potential for its stock, which is already trading at inflated levels.

GameStop’s Retail Decline: Sales and Profits Plummet

The 2024 financial results revealed that GameStop’s retail business is in freefall, with sales decreasing across all major regions:

* Total net sales for the year declined by 27% to $4.12 billion from the previous year’s $5.64 billion.

* Operating income also took a substantial hit, plummeting by 94% to $67 million compared to last year’s $1.06 billion.

* Gross profit for the year decreased by 14% to $1.44 billion.

The decline in sales is largely attributed to the shift toward digital gaming and direct-to-consumer platforms, which have significantly reduced the demand for physical game discs and in-store purchases.

GameStop’s Bitcoin Gamble: A Desperate Move or Strategic Shift?

In a move that surprised many, GameStop announced the formation of an investment committee to be led by CEO Ryan Cohen. This committee will explore opportunities in cryptocurrency investments, specifically focusing on Bitcoin, allocating a portion of the company’s $4.775 billion cash reserves towards this venture.

While this move could diversify GameStop’s holdings, it also comes with substantial risks. The company is already facing difficulties in its core retail business, and diverting funds towards crypto could further strain its finances.

Moreover, investing in Bitcoin carries inherent volatility and market risk, which could potentially decrease the value of the company’s investments.

What Could Happen Next with GameShot Stock

With GameStop shifting its focus to crypto, it remains to be seen how this new direction will play out, especially with analysts predicting a sharp decline in the stock price.

These projections indicate that GameStop’s current stock price is significantly overvalued, with the company’s declining fundamentals and risky crypto pivot further weighing on its outlook.

As GameSopo continues to struggle, investors may want to keep an eye on the company’s upcoming earnings reports and any news regarding its new investment plans.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Other articles published on Apr 02, 2025