GameStop（GME）的股票，四面楚歌的視頻遊戲零售商變成了記憶紀念日，暴跌25％

GameStop（GME）的股票，四面楚歌的視頻遊戲零售商變成了記憶紀念日，下跌25％

Shares of embattled video game retailer GameStop (NYSE:GME) plunged 25% on Thursday, more than erasing all the gains since the company earlier this week announced it will add bitcoin (BTC) as a treasury reserve asset.

四面楚歌的視頻遊戲零售商GameStop（NYSE：GME）的股票在周四下跌25％，而不僅僅是該公司本週早些時候宣布將增加比特幣（BTC）作為國庫券儲備資產。

GME fell to just above $21 during the session, trading at its lowest price since October and down over 28% from Wednesday’s peak of nearly $30.

GME在會議期間下跌至21美元以上，以自10月以來的最低價格交易，比周三的峰值近30美元下降了28％。

The price action came after the company unveiled plans late Wednesday for a $1.3 billion, 0% convertible note offering to raise money for its BTC acquisition plan. After an initial wave of euphoria among the crypto crowd, the hype died down on Thursday as investors took a closer look at the financing.

價格行動是在該公司週三晚些時候宣布計劃的13億美元，可轉換票據以籌集其BTC收購計劃籌集資金的計劃之後進行的。在加密人群中最初引起了欣喜若狂的浪潮之後，由於投資者仔細研究了融資，炒作在周四消失了。

“Many existing shareholders dislike the move, so a switch is happening with large volume,” Louis Liu, chief investment officer of Mimesis Capital, said in an X post.

Mimesis Capital的首席投資官Louis Liu在X帖子中說：“許多現有股東不喜歡這一舉動，因此大量的轉變正在發生。”

The sharp sell-off may also have to do with the convertible bond pricing period, as prospective bond buyers might be selling or shorting the stock. James Van Straten, senior analyst at CoinDesk, noted that MicroStrategy (NASDAQ:MSTR) and Semler Scientific (NASDAQ:SMLR) shares also declined during pricing periods of their convertible note offerings.

急劇的拋售也可能與可轉換債券定價期有關，因為潛在的債券買家可能正在出售或賣空股票。 Coindesk的高級分析師James van Straten指出，MicroStrategy（NASDAQ：MSTR）和Semler Scientific（NASDAQ：SMLR）的股票在其可轉換票據產品的定價期間也下降了。

“We suspect that GameStop’s share price will drift lower prior to the issuance of the convert, particularly given that a convert investor will receive a zero coupon and will be required to have faith that the GameStop meme phenomenon will persist for another five years,” said Wedbush analyst Michael Pachter, who has an underperform rating on GME.

Wedbush分析師Michael Pachter說：“我們懷疑GameStop的股價會在發布convert依之前降低，特別是考慮到convert依的投資者將獲得零優惠券，並且必須相信GameStop Meme Mememenon將持續五年。”

Pachter argued that the company is following MicroStrategy’s playbook, but MSTR trades at less than twice the value of its bitcoin, while GME trades at more than twice its cash holdings.

帕克特（Pachter）辯稱，該公司正在關注Microstrategy的劇本，但MSTR的交易價格不到其比特幣價值的兩倍，而GME的交易價格則是其現金持有量的兩倍以上。

“We expect the offering to fall flat,” Pachter continued. “We find it hard to understand why any investor would pay more than 2x cash value for the potential for GameStop to convert that cash into BTC, particularly since the same investors can invest in BTC or a BTC ETF themselves.”

“我們預計產品會平坦，” Pachter繼續說道。 “我們發現很難理解為什麼任何投資者都會為GameStop轉換為BTC的潛力支付超過2倍的現金價值，尤其是因為同一投資者可以對BTC或BTC ETF進行投資。”

GME is only the latest Wall Street firm to convert some of its cash into bitcoin. The trend started with MicroStrategy, the company led by bitcoin proponent Michael Saylor, which years ago announced it would use its cash reserves to buy the cryptocurrency. MSTR’s success following the transition caused many other companies to follow, especially recently as U.S. President Donald Trump has promised to make the U.S. the center for digital asset development.

GME只是最新的華爾街公司，將其一些現金轉換為比特幣。該趨勢始於Microstrategy，該公司由比特幣支持者Michael Saylor領導，該公司幾年前宣布將使用現金儲備購買加密貨幣。在過渡後，MSTR的成功導致了許多其他公司的遵循，尤其是最近美國總統唐納德·特朗普（Donald Trump）承諾將美國成為數字資產開發中心。

While Saylor has long argued for more companies, especially those with large cash reserves, and even the U.S. as a country, to adopt bitcoin as a reserve strategy, not everybody agrees.

雖然塞勒（Saylor）長期以來一直為更多的公司（尤其是擁有大量現金儲備的人，甚至是美國作為一個國家）主張採用比特幣作為儲備戰略，但並非所有人都同意。

“Gambling on companies buying Bitcoin is not a good investment strategy,” said well-known bitcoin gadfly Peter Schiff in a post on X. “$GME has lost all of yesterday’s Bitcoin-induced 15% gain. Shares are now down 2% over the two days combined. Now that all the fools have already rushed in, smarter investors are selling as they realize that wasting cash buying Bitcoin is not a viable long-term business model.”

眾所周知的比特幣gadfly彼得·席夫（Peter Schiff）在X上的一篇文章中說：“購買比特幣的公司賭博並不是一個好的投資策略。“ $ GME損失了昨天的所有昨天比特幣引起的15％收益。現在，兩天的股票總共下跌了2％。在兩天的總和中，所有傻瓜都已經在忙碌的投資中銷售了，他們意識到了一筆不錯的企業，他們意識到了一筆不錯的業務。