GameStop Stock Rallies 6%, Eyes $45 After Bitcoin Acquisition

GameStop (GME) stock surged over 6% on Wednesday, breaking through the $35 mark for the first time in nearly a year. The company’s announcement of acquiring $513 million worth of Bitcoin fueled this surge, marking a significant shift towards cryptocurrency within the retail giant. The move came after GameStop completed a $1.5 billion bond offering last month, strengthening its balance sheet and paving the way for future investments in crypto assets. 32 million shares changed hands during the trading session, signifying the level of market interest.