:max_bytes(150000):strip_icc()/GettyImages-2195701667-88dd8e0de2b64cc5b6702969ace7317d.jpg?w=1920&resize=1920,1267&ssl=1 "Why a Social Media Post is Boosting GameStop, MicroStrategy Stocks Monday | Global News Avenue")
Why a Social Media Post is Boosting GameStop, MicroStrategy Stocks Monday
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Key Points
- Shares in GameStop and MicroStrategy both jumped after the weekend’s social media posts.
- GameStop CEO Ryan Cohen posted a photo with MicroStrategy co-founder Michael Saylor earlier Saturday, sparking speculation about GameStop’s potential crypto plan.
- Last week, MicroStrategy is renaming itself as a strategy and has also purchased more bitcoins last week.
Shares of GameStop (GME) and microscience (Mstr)-Which one Renamed last week As a Strategy – On Monday morning, photos of executives of these companies were posted to social media over the weekend.
GameStop CEO Ryan Cohen posted a photo early Saturday morning with Battle Coin’s largest company holder Michael Saylor (Michael Saylor) (btcusd).
Cohen joined the Gamestop board in 2021 and became CEO of video game retailer in 2023 after Chewy’s co-founder (eagle) Be interested in the company during the company Meme Stock In early 2021, GameStop sharing craze reached record levels.
The photos of the two together have sparked speculation from other X users, which may indicate that GameStop is considering entering the cryptocurrency space, with more than 1,600 replies to the post as of Monday morning.
On Monday, new regulatory documents for the strategy showed that the company bought more bitcoins last week. The company owns 478,740 bitcoins after purchasing last week, worth about $46.4 billion, with the cryptocurrency priced just over $97,000 on Monday.
GameStop shares rose more than 7% on Monday morning, while strategy stocks were less than 1%.
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