GameStop的比特幣採購計劃觸發市場反彈

GameStop是2021年著名的Meme股票Frenzy中心的視頻遊戲零售商，再次在金融市場中揮舞著。

GameStop (NYSE:GME) is once again making headlines as its recent announcement to acquire Bitcoin has triggered a dramatic market reaction, with the New York Stock Exchange imposing a Short Sale Restriction (SSR) on the stock and its shares plummeging 22% to hit a four-month low.

GameStop（NYSE：GME）再次成為頭條新聞，因為最近宣布收購比特幣的公告引發了戲劇性的市場反應，紐約證券交易所對該股票施加了賣空限制（SSR），其股票股份佔22％，以達到四個月的低點。

On March 27, GameStop’s short sales volume soared to 30.85 million shares, showcasing a massive 234% increase in just 24 hours. This level of short-selling activity is approaching the 33.26 million shares seen during the historic January 2021 short squeeze that captivated financial markets.

3月27日，GameStop的短銷售量飆升至3085萬股，在短短24小時內增長了234％。這種短售票的活動水平接近了2021年1月在2021年1月的短暫擠壓中看到的326萬股股票，這吸引了金融市場。

In response to the extreme price volatility and short selling, the NYSE has imposed an SSR on GameStop stock. This trading restriction automatically activates when a stock drops more than 10% from the previous day’s closing price and remains in effect for the rest of that trading day and the following day.

為了響應極端的價格波動和賣空，紐約證券交易所對GameStop股票施加了SSR。當股票從前一天的收盤價下降超過10％時，這種交易限制會自動激活，並且在該交易日和第二天的其餘時間仍然有效。

The stock had already gained 12% following the company’s announcement to buy Bitcoin and open a crypto wallet. However, this gain was completely erased as the stock plunged 22% during the trading session. At the time of the reports, GME was trading at $22.09, its lowest level since October.

該公司宣布購買比特幣並打開加密錢包後，該股票已經上漲了12％。但是，隨著交易會期間股票暴跌22％，這一收益被完全消除了。在報告時，GME的交易價格為22.09美元，是10月以來的最低水平。

The selloff resulted in an estimated $3 billion loss in market capitalization in a single day. This sharp decline reflects deep investor skepticism about the company’s new strategic direction.

拋售在一天之內估計造成了30億美元的市值損失。這種急劇下降反映了投資者對公司新戰略方向的懷疑。

GameStop’s Crypto Pivot Sparks Market Backlash

GameStop的加密透視火花市場強烈反彈

GameStop did not specify exactly how much Bitcoin it plans to purchase. However, after markets closed on March 26, the company announced a $1.3 billion convertible notes offering, with proceeds intended for “general corporate purposes, including acquiring Bitcoin.”

GameStop並未確切指定其計劃購買多少比特幣。但是，在3月26日市場關閉後，該公司宣布了13億美元的可轉換票據產品，其收益旨在“一般公司目的，包括收購比特幣”。

Convertible notes are a form of debt that can later be converted into equity. Some analysts believe the announcement of this debt offering contributed to the stock’s decline, as it could potentially dilute existing shareholders’ stakes.

可轉換票據是一種債務形式，後來可以將其轉換為權益。一些分析人士認為，宣布此債務發行有助於股票的下降，因為它可能會稀釋現有股東的股份。

Han Akamatsu, a market analyst, drew parallels to Strategy (formerly MicroStrategy), noting that when “MSTR issued $1.05B of 0% convertible notes, the stock dipped after the announcement due to hedging shorts, but later exploded when Bitcoin ripped and the arbitrage unspooled.”

市場分析師Han Akamatsu將與戰略相似（以前為MicroStrategy），並指出“ Mstr發行了1.05B美元的0％可易轉紙票時，由於對沖短褲的宣布後，股票下跌了，但後來又爆炸了比特幣撕裂時爆炸了，而套利卻不在套利。”

$GME SSR Rule is on for tomorrow.

$ GME SSR規則將於明天進行。

They can still short, but only if the stock moves up before they can short into it.

它們仍然可以短，但是前提是股票在短短之前就向上移動。

Smashing the bid over and over is restricted. pic.twitter.com/oVHumcv5XS

一遍又一遍地粉碎出價是限制的。 pic.twitter.com/ovhumcv5xs

— Han Akamatsu 赤松 (@Han_Akamatsu) March 27, 2025

- Han Akamatsu（@han_akamatsu）2025年3月27日

Market experts have expressed doubts about GameStop’s Bitcoin strategy. Tom Sosnoff, founder and CEO of Tastylive, told Yahoo Finance that GameStop’s decision to buy Bitcoin feels “a little dot-comish” to him, comparing it to companies that added “.com” to their names during the internet bubble to attract investor interest without clear strategic justification.

市場專家對GameStop的比特幣戰略表示懷疑。 Tastylive的創始人兼首席執行官Tom Sosnoff告訴Yahoo Finance，GameStop購買比特幣的決定對他來說是“一個小的dot-comish”，將其與在互聯網泡沫中添加了“ .com”的公司將其與“ .com”相提並論，以吸引投資者的興趣，以吸引投資者而沒有明確的戰略合理性。

Bret Kenwell, a US investment analyst at eToro, echoed these concerns, telling Reuters that “investors are not necessarily optimistic on the underlying business” of GameStop, calling into question the long-term viability of the Bitcoin pivot.

埃托羅（Etoro）的美國投資分析師布雷特·肯威爾（Bret Kenwell）回應了這些擔憂，並告訴路透社：“投資者不一定對GameStop的基本業務感到樂觀”，這使比特幣樞紐的長期可行性質疑。

Kevin Malone, president and CEO of Malone Wealth, raised concerns about potential market manipulation, stating that “GameStop traded 50x more shares today than last Thursday. Not statistically possible without naked short-selling.”

Malone Wealth的總裁兼首席執行官凱文·馬龍（Kevin Malone）對潛在的市場操縱提出了擔憂，他說：“ GameStop今天的股票比今天高出50倍。沒有裸露的短暫銷售，在統計上是不可能的。”

The current short selling volume, while high, still falls short of the all-time record set on June 3, 2024, when it reached 46.20 million shares. That spike coincided with the return of Keith Gill, the stock trader known for his role in the 2021 GameStop short squeeze, who revealed he had resumed trading GameStop stock with $180 million.

目前的賣空量雖然很高，但仍未達到2024年6月3日的歷史記錄，當時它達到了4620萬股。尖峰恰逢基思·吉爾（Keith Gill）的回歸，基思·吉爾（Keith Gill）以2021年GameStop Short Squeeze的角色而聞名，後者透露他已經以1.8億美元的價格恢復了Trading GameStop Stock。

From a technical analysis perspective, GameStop’s 22% intraday decline on huge volume indicates strong selling pressure and confirms a bearish trend. While the SSR might provide some temporary relief from additional immediate short-selling pressure, the stock remains under pressure.

從技術分析的角度來看，GameStop在巨大體積的盤中下降的22％表明銷售壓力很大，並證實了看跌趨勢。儘管SSR可能會暫時緩解額外的近距離銷售壓力，但庫存仍處於壓力下。

Key support levels to watch include the $20 mark, while any rebound attempts would likely face resistance in the $25-$27 range, which represents previous support levels that may now act as resistance.

要關注的關鍵支持水平包括20美元，而任何反彈的嘗試都可能在25至27美元的範圍內面臨阻力，這代表了以前的支​​持水平，現在可能是電阻。

The dramatic market response to GameStop’s Bitcoin plans highlights the uncertainty investors feel about this strategic shift. Critics are questioning its long-term viability, and the steep drop in market capitalization reflects the market’s pessimistic outlook.

對GameStop比特幣計劃的戲劇性市場反應凸顯了投資者對這一戰略轉變的不確定性。批評家正在質疑其長期的生存能力，市值的急劇下降反映了市場的悲觀前景。

GameStop now faces the challenge of convincing investors that its Bitcoin strategy is a sound decision that will ultimately benefit the company and its shareholders. The market will be closely watching how this story develops in the coming days and weeks.

GameStop現在面臨著說服投資者的挑戰，即其比特幣戰略是一個合理的決定，最終將使公司及其股東受益。市場將在未來幾天和幾週內密切關注這個故事的發展。