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Gamestop (GME) shares dropped 22% after the company released plans to buy Bitcoin (BTC) using proceeds from a $ 1.3 billion replaced debt offer, which sparked a doubt from analysts.
Plunge has wiped $ 3 billion from the company market capitalization, according to Financial Data on Google Until 2:14 am est.
Gamestop moved up 12% after The company has announced the Bitcoin investment plan On March 25, but the rally returned yesterday in the midst of the details of its debt release plan and as the analysts began to ask the righteousness behind the approach.
Analysts ask the Gamestop business model
Brent Kenwell, a US investment analyst in ethoro, said investors are asking the company's business model.
“If bitcoin would be pivot, where did it leave everything?” he said interview with Reuters yesterday.
In uncertain investors in the future of Gamestop's future, Wedbush analyst Michael Pachter maintains his underperform rating for GME.
“The price of Gamestop's sharing will reduce less prior before the release of the convert, specifically given that an investor in convert will receive a zero coupon and will be asked to have a faith that the phenomenon of the meme meme will continue for another five years,” he said.
Bitcoin's critic Peter Schiff also shared his obtaining Gamestop's recent decision to buy BTC.
“Gambling with Bitcoin buying companies is not a great investment strategy,” he said in a March 27 X post.
$ Gme Lost all yesterday's Bitcoin inspiration of 15% obtained. Shares have now dropped 2% in two days combined. Now that all the fools are in a hurry, the smarter investors are selling as they realize that wasting the cash purchase of Bitcoin is not a viable long-term business model.
– Peter Schiff (@Peterschiff) March 27, 2025
“Now that all the fools are in a hurry, the smarter investors are selling as they realize that wasting the cash purchase of Bitcoin is not a viable long-term business model.”
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