Gamesop (GME) shares fell by almost an additional 6% on Thursday while investors continued to sell the news of the company’s disclosure by its first Bitcoin acquisitions.
Wednesday morning, the company said that it has acquired 4,710 Bitcoin – a long -awaited decision linked to its cryptographic cash strategy revealed in March. At that time, the company launched a capital increase of $ 1.3 billion to help finance BTC purchases.
The stock plunged shortly after a steep drop in broader markets on the price announcements of the Trump Liberation Day. The shares, however, made a substance with markets in the middle of the month and increased by more than 60% in the weeks preceding the announcement on Wednesday.
The decline since – which now approaches 20% – could only be a little more than investors who sell the news after the big higher race or could be the exhaustion of investors with the Bitcoin de corporate cash strategies, which apparently up to one or more a day for several weeks.
In addition, Gamesop acquisition of “just” about $ 500 million Bitcoin dollars (dates and purchase prices were not disclosed) could be a disappointment given the capital increase of $ 1.3 billion in the company, not to mention several billion dollars in free cash which were already on the balance sheet. With a market capitalization of $ 14 billion, the company’s purchase of bitcoin was relatively modest.
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