Why a social media post increased gamestop, microstrategy -shares Monday

On By Littum

Key takeaways

  • Shares of Gamestop and Microstrategy climbed Monday after a social media post this weekend.
  • Gamestop CEO Ryan Cohen published a photo early Saturday by himself with Microstratey -Medtor Michael Saylor, who triggered speculation about GameStop’s potential crypto plans.
  • Microstratey, which was redirected last week as a strategy, also bought more Bitcoin.

Shares of Gamestop (GME) and Microstracky (MSTR) – which last week were redirected as a strategy – clashed Monday after a photo of companies from the companies were sent to social media this weekend.

Gamestop CEO Ryan Cohen published a photo early Saturday morning with himself with Michael Saylor, co -founder of strategy, the largest business owner of Bitcoin (BTCUSD).

Cohen joined the GameStop Board of Directors in 2021 and became CEO of the video game dealer in 2023, after co-founder of Chewy (CHWY) was interested in the company under the MEME share, which sent gamestop shares to record levels at the beginning of 2021.

The photo of the couple together drew Speculation Gamestop could consider entering the cryptocurrency room with over 1,600 answers to the post on X from Monday. Gamestop and strategy did not immediately respond to a request for comment.

Separate Monday, a legislative filing from strategy revealed that the company bought even more Bitcoin last week. The company has holdings of 478,740 Bitcoin after last week’s purchase, worth approx. $ 46.4 billion for Cryptocurrency’s Monday price just over $ 97,000.

Gamestop shares jumped almost 10% Monday, while shares in the strategy added approx. 2%.

Update – Feb. 10, 2025: This article has been updated to reflect additional information and newer share price values.