GameStop (GME) is plotting a high-stakes acquisition that might involve swapping out its bitcoin BTC$78,432.01 holdings for a bold bet in the consumer sector.
In an interview with CNBC last week, CEO Ryan Cohen said the firm plans to acquire a publicly traded consumer company that’s “very, very, very big” — one that could potentially boost GameStop’s valuation into the hundreds of billions. “It’s transformational,” Cohen said. “Not just for GameStop, but ultimately, within the capital markets… this is something that really has never been done before.”
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The news has helped send GME’s stock price higher by more than 8% on Monday, bringing its year-to-date gain to 25%. That’s recouped much of GME’s loss
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