GameStop shares rose Monday afternoon amid heightened volatility despite no clear news or catalysts, according to Benzinga. Monday’s move followed a volatile week driven by swings in the cryptocurrency market and remarks from GameStop’s CEO. GameStop’s stock performance last week closely tracked Bitcoin price swings due to its crypto holdings, often overshadowing its core retail business. CEO Ryan Cohen stayed in the spotlight by turning a PR incident into a $250,000 charity auction and criticizing short-selling as “un-American.” He reiterated GameStop’s focus on business fundamentals, a shift toward collectibles, and a commitment to responsible capital deployment. GameStop shares rose 2.7% to $23.91 on Monday afternoon, according to Benzinga Pro.
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00:02GameStop shares rose Monday afternoon amid heightened volatility despite no clear news or catalysts, according to Benzinga.
00:08Monday's move found a volatile week driven by cryptocurrency market swings and remarks from GameStop's CEO.
00:14GameStop's stock performance last week closely tracked Bitcoin price swings due to its crypto holdings, often overshadowing its core retail business.
00:21CEO Ryan Cohen stayed in the spotlight by turning a PR incident into a $250,000 charity auction and criticizing short selling as un-American.
00:29He reiterated GameStop's focus on business fundamentals, a shift toward collectibles, and a commitment to responsible capital deployment.
00:36GameStop shares rose 2.7% to $23.91 on Monday afternoon, according to Benzinga Pro.
