GameStop Shares Plunge 25% After Bitcoin Strategy and Bond Offering
GameStop (GME) shares plummeted by 25% on Thursday, losing the gains made early in the week when they announced plans to adopt Bitcoin (BTC) as a treasury reserve asset. The stock’s value dropped to just above $21, marking the lowest level since October and down over 28% from a mid-week peak of nearly $30. This significant decline raises concerns over investor confidence and the viability of GameStop’s cryptocurrency strategy. How will the company address this setback?