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GameStop shares tumble as investors question bitcoin pivot
Shares of GameStop fell more than 15 per cent on Thursday after the company's plan to finance its bitcoin pivot raised questions about the timing of its move and its strategy to turn around its struggling retail business. The video game retailer's shares also gave up all their gains from a day earlier and were on track for their biggest one-day fall since last June, after the company said it was offering $1.3 billion in 0 per cent 2030 convertible bonds to amass the cryptocurrency. The company's announcement that it would buy bitcoin to hold as a treasury reserve asset had created a mini euphoria among retail ... (full story)
