GameStop Surges to 367th in Trading Volume with $458 Million in Shares Traded
1min read On April 4, 2025, gamestop (GME) experienced a significant surge in trading volume, with a total of $458 million in shares traded, marking a 91.54% increase from the previous day. This surge placed GameStop at the 367th position in terms of trading volume for the day. The stock price of GameStop also rose by 11.33%.
Ryan cohen, the chairman and CEO of GameStop, recently increased his stake in the company by purchasing an additional 500,000 shares at $21.55 per share, totaling approximately $10.78 million. This acquisition brings Cohen's total holdings to 37,347,842 shares, representing about 8.4% of GameStop's outstanding shares. Cohen's purchase follows the company's decision to invest part of its cash reserves in bitcoin, a move that has garnered significant attention in the market.
GameStop's board approved a plan in late March to invest in bitcoin, and the company issued $1.5 billion in convertible notes to fund this acquisition. The capital raise closed earlier this week, and the market has responded positively to these developments. Cohen's strategic investments and the company's foray into cryptocurrency have positioned GameStop as a unique player in the retail sector, with a focus on leveraging its cash and brand to create a new-age investment holding company.
Ask Aime: What is the strategic significance of GameStop's investment in bitcoin and its impact on the retail sector?
