GameStop的比特币采购计划触发市场反弹

GameStop是2021年著名的Meme股票Frenzy中心的视频游戏零售商，再次在金融市场中挥舞着。

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）再次成为头条新闻，因为最近宣布收购比特币的公告引发了戏剧性的市场反应，纽约证券交易所对该股票施加了卖空限制（SSR），其股票股份占22％，以达到四个月的低点。

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的短销量飙升至3085万股，在短短24小时内显示了234％的增长234％。这种短售票的活动水平接近了2021年1月在2021年1月的短暂挤压中看到的326万股股票，这吸引了金融市场。

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.

为了响应极端的价格波动和卖空，纽约证券交易所对GameStop股票施加了SSR。当股票从前一天的收盘价下降超过10％时，这种交易限制会自动激活，并且在该交易日和第二天的其余时间仍然有效。

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.

该公司宣布购买比特币并打开加密钱包后，该股票已经上涨了12％。但是，随着交易会期间股票暴跌22％，这一收益被完全消除了。在报告时，GME的交易价格为22.09美元，是10月以来的最低水平。

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.

抛售在一天之内估计造成了30亿美元的市值损失。这种急剧下降反映了投资者对公司新战略方向的怀疑。

GameStop’s Crypto Pivot Sparks Market Backlash

GameStop的加密透视火花市场强烈反弹

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并未确切指定其计划购买多少比特币。但是，在3月26日市场关闭后，该公司宣布了13亿美元的可转换票据产品，其收益旨在“一般公司目的，包括收购比特币”。

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.

可转换票据是一种债务形式，后来可以将其转换为权益。一些分析人士认为，宣布此债务发行有助于股票的下降，因为它可能会稀释现有股东的股份。

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.”

市场分析师Han Akamatsu将与战略相似（以前为MicroStrategy），并指出“ Mstr发行了1.05B美元的0％可易转纸票时，由于对冲短裤的宣布后，股票下跌了，但后来又爆炸了比特币撕裂时爆炸了，而套利却不在套利。”

$GME SSR Rule is on for tomorrow.

$ GME SSR规则将于明天进行。

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

它们仍然可以短，但是前提是股票在短短之前就向上移动。

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

一遍又一遍地粉碎出价是限制的。 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.

市场专家对GameStop的比特币战略表示怀疑。 Tastylive的创始人兼首席执行官Tom Sosnoff告诉Yahoo Finance，GameStop购买比特币的决定对他来说是“一个小的dot-comish”，将其与在互联网泡沫中添加了“ .com”的公司将其与“ .com”相提并论，以吸引投资者的兴趣，以吸引投资者而没有明确的战略合理性。

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.

埃托罗（Etoro）的美国投资分析师布雷特·肯威尔（Bret Kenwell）回应了这些担忧，并告诉路透社：“投资者不一定对GameStop的基本业务感到乐观”，这使比特币枢纽的长期可行性质疑。

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的总裁兼首席执行官凯文·马龙（Kevin Malone）对潜在的市场操纵提出了担忧，他说：“ GameStop今天的股票比今天高出50倍。没有裸露的短暂销售，在统计上是不可能的。”

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.

目前的卖空量虽然很高，但仍未达到2024年6月3日的历史记录，当时它达到了4620万股。尖峰恰逢基思·吉尔（Keith Gill）的回归，基思·吉尔（Keith Gill）以2021年GameStop Short Squeeze的角色而闻名，后者透露他已经以1.8亿美元的价格恢复了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.

从技术分析的角度来看，GameStop在巨大体积的盘中下降的22％表明销售压力很大，并证实了看跌趋势。尽管SSR可能会暂时缓解额外的近距离销售压力，但库存仍处于压力下。

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.

要关注的关键支持水平包括20美元，而任何反弹的尝试都可能在25至27美元的范围内面临阻力，这代表了以前的支​​持水平，现在可能是电阻。

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.

对GameStop比特币计划的戏剧性市场反应凸显了投资者对这一战略转变的不确定性。批评家正在质疑其长期的生存能力，市值的急剧下降反映了市场的悲观前景。

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现在面临着说服投资者的挑战，即其比特币战略是一个合理的决定，最终将使公司及其股东受益。市场将在未来几天和几周内密切关注这个故事的发展。