This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: GameStop Stock Jumps After Company Enters NFTs
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Markets > GameStop Stock Jumps After Company Enters NFTs
Markets

GameStop Stock Jumps After Company Enters NFTs

Editorial Board Published January 7, 2022
Share
GameStop Stock Jumps After Company Enters NFTs
SHARE

A marketplace for nonfungible tokens and cryptocurrency plans are new steps in GameStop’s overhaul.

Photo: John Minchillo/Associated Press

By

Gunjan Banerji

Updated Jan. 7, 2022 4:24 pm ET

GameStop Corp. GME 7.32% shares jumped 7.3% on Friday, extending the videogame retailer’s volatile ride into this year.

The stock lurched higher after The Wall Street Journal reported that GameStop is launching a new division. GameStop plans to develop a marketplace for nonfungible tokens and establish cryptocurrency plans, an area that has been popular among individual investors.

The shares pared even bigger gains from earlier in the session and settled at $140.62. The company’s share price surged to all-time highs last year during a Reddit-driven frenzy and is up more than 650% over the past year. 

But it has been a rocky start in 2022 for meme stocks overall. AMC Entertainment Holdings Inc.’s stock has fallen more than 15% in the first week of the year. Even with Friday’s gains, GameStop shares are down 5.2% for the week.

The new division is the latest in a string of moves that company executives have made to overhaul the retailer. The company has specialized in selling hard copies of games even though many consumers are opting to download and stream games over the internet. GameStop was one of many companies hurt during the pandemic as businesses around the country were shut down. 

Last year, GameStop had a shake-up within its executive team and it named activist Ryan Cohen as chairman.

GameStop isn’t the only memestock to add crypto features to its business. AMC last year said that it would accept bitcoin at its movie theaters. AMC’s Chief Executive Officer Adam Aron wrote on Twitter Thursday that he has been “repeatedly asked when AMC expects to routinely accept Dogecoin and Shiba Inu for any and all payments made via the AMC” website and mobile app.

 He said that AMC is on track to implement the change in the first quarter of the year.

Write to Gunjan Banerji at [email protected]

Terms like “nonfungible token,” “minting,” “gas fees” and more sound like a foreign language to you? To better understand it—and explain it—WSJ’s Joanna Stern turned her son’s art into an NFT on the Ethereum blockchain. Photo illustration: Jacob Reynolds

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Appeared in the January 8, 2022, print edition as ‘GameStop’s Shares Jump On NFT Plan.’

Contents
A marketplace for nonfungible tokens and cryptocurrency plans are new steps in GameStop’s overhaul.Gunjan Banerji
TAGGED:MarketsPAIDWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article Deliveroo, Probing Restaurant-Delivery Snags, Plans to Open Eatery Deliveroo, Probing Restaurant-Delivery Snags, Plans to Open Eatery
Next Article Stocks Close Lower After Jobs Report Stocks Close Lower After Jobs Report

Editor's Pick

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Studying Time: 3 minutes The View co-host Alyssa Farah Griffin is pregnant! On ‘The View,’ Alyssa Farah Griffin breaks the…

By Editorial Board 3 Min Read
Arturo Gatti Jr. Reason behind Dying: Son of Boxing Legend Passes Away at 17
Arturo Gatti Jr. Reason behind Dying: Son of Boxing Legend Passes Away at 17

Studying Time: 2 minutes Aruturo Gatti Jr. — an aspiring boxer and…

3 Min Read
Mandy Moore ‘Unrecognizable’ to Followers After Debuting New Face
Mandy Moore ‘Unrecognizable’ to Followers After Debuting New Face

Studying Time: 4 minutes Mandy Moore has followers scratching their heads. This…

6 Min Read

Oponion

Spencer Hatcher: Nation Star’s Mom Stabbed to Demise In Dwelling Invasion

Spencer Hatcher: Nation Star’s Mom Stabbed to Demise In Dwelling Invasion

Studying Time: 2 minutes Spencer Hatcher — an up-and-coming star…

August 11, 2025

China’s central financial institution calls on state banks to cut back US greenback purchases

Sen. Rand Paul, R-Ky., unpacks the…

April 9, 2025

The Seasonal Reset: 38 Simple Fall Updates for Max Coziness

The primary crisp morning of fall…

September 28, 2025

Adams, Cuomo, Mamdani and Sliwa pay their respects

With assist from Amira McKee IN…

August 2, 2025

8 Finest Unscented Lotions For Tattoos in 2024 | Fashion

We independently consider all advisable services…

December 4, 2024

You Might Also Like

ETF chief board dominated by nimble funds
Markets

ETF chief board dominated by nimble funds

VistaShares CEO Adam Patti breaks down ETFs that mimic the commerce methods of Invoice Ackman and Warren Buffett on 'The…

4 Min Read
JPMorgan Chase launches .5 trillion plan to bolster US financial and nationwide safety
Markets

JPMorgan Chase launches $1.5 trillion plan to bolster US financial and nationwide safety

JPMorgan Chase Chairman and CEO Jamie Dimon talks federal spending, the state of markets, billion-dollar tech investments, commerce tensions, nationwide…

4 Min Read
Crypto massacre wipes out billions, however indicators of stabilization emerge
Markets

Crypto massacre wipes out billions, however indicators of stabilization emerge

Terry Duffy, CME Group chairman and CEO, weighs in because the cryptocurrency buying and selling platform Coinbase misplaced half its…

4 Min Read
Crypto dealer discovered useless in Lamborghini in Kyiv as market plunges
Markets

Crypto dealer discovered useless in Lamborghini in Kyiv as market plunges

Nexo co-founder and managing companion Antoni Trenchev discusses the cryptocurrency business on ‘Making Money with Charles Payne.’ This story discusses…

3 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?