GameStop Shares Surge Amidst Bitcoin Speculation

GameStop shares experienced a significant jump on Monday, rising nearly 7% after CEO Ryan Cohen posted a photo with Michael Saylor, co-founder of Strategy (formerly MicroStrategy), on X. As of press time, GameStop shares are trading at $26.39, up 6.7%.

The sudden surge in shares has sparked speculation about a potential Bitcoin-related move by GameStop. Cohen’s post, which contained no information, has fueled rumors that the company might be exploring opportunities related to Bitcoin (BTC). Strategy, led by Michael Saylor, has recently reignited investors’ interest in Bitcoin after embarking on a buying spree.

Despite the speculation, neither Cohen nor GameStop has made any public statements about the meeting or potential plans related to Bitcoin. The lack of information has left investors to wonder about the company’s intentions.

GameStop’s Recent Struggles

GameStop has been working to transition away from its traditional video game retail business, leaving investors uncertain about the company’s future. According to data from Google Finance, GameStop’s shares have been down nearly 14% since the start of 2025.

However, the company has a history of making headlines. In 2021, GameStop became a top meme stock when retail traders drove up its price, putting pressure on short sellers. The surge ultimately led to significant losses for hedge funds that had bet against the stock, including Melvin Capital, which lost around $7 billion.

While Monday’s jump is a positive sign for GameStop, the company still faces challenges in finding momentum. Investors will be watching closely for any future developments related to Bitcoin or the company’s transition plans.

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