GameStop shares surge on plan to enter NFT, crypto markets

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GameStop shares surge on plan to enter NFT, crypto markets

The Straits Times2022-01-07

BENGALURU (REUTERS, BLOOMBERG) - GameStop is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter ...

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PaulMardling
·2022-01-07
It's amazing this is only news now. GameStop has been hiring and working at an NFT project for several months. Seems to me that hedge funds and market makers have been shorting the stock heavily for over a month to get the stock price down for their year end reports. I think this was resetting failed to delivered shares that added up from all the naked shorting. Amazing how AMC, BBY, EXPR and KOSS all went up at the same time as GME. I'm sure this has nothing to do with the abusive short selling, swaps and ETFs meme stock ETFs that can add shares and dilute the market to drive down the share price...
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Seems to me that hedge funds and market makers have been shorting the stock heavily for over a month to get the stock price down for their year end reports. I think this was resetting failed to delivered shares that added up from all the naked shorting. Amazing how AMC, BBY, EXPR and KOSS all went up at the same time as GME.&nbsp;I'm sure this has nothing to do with the abusive short selling, swaps and ETFs meme stock ETFs that can add shares and dilute the market to drive down the share price...","listText":"It's amazing this is only news now. GameStop has been hiring and working at an NFT project for several months. Seems to me that hedge funds and market makers have been shorting the stock heavily for over a month to get the stock price down for their year end reports. I think this was resetting failed to delivered shares that added up from all the naked shorting. Amazing how AMC, BBY, EXPR and KOSS all went up at the same time as GME.&nbsp;I'm sure this has nothing to do with the abusive short selling, swaps and ETFs meme stock ETFs that can add shares and dilute the market to drive down the share price...","text":"It's amazing this is only news now. GameStop has been hiring and working at an NFT project for several months. Seems to me that hedge funds and market makers have been shorting the stock heavily for over a month to get the stock price down for their year end reports. I think this was resetting failed to delivered shares that added up from all the naked shorting. Amazing how AMC, BBY, EXPR and KOSS all went up at the same time as GME. I'm sure this has nothing to do with the abusive short selling, swaps and ETFs meme stock ETFs that can add shares and dilute the market to drive down the share price...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9006005016","repostId":2201629961,"repostType":2,"repost":{"id":"2201629961","kind":"news","pubTimestamp":1641514946,"share":"https://ttm.financial/m/news/2201629961?lang=&edition=fundamental","pubTime":"2022-01-07 08:22","market":"sg","language":"en","title":"GameStop shares surge on plan to enter NFT, crypto markets","url":"https://stock-news.laohu8.com/highlight/detail?id=2201629961","media":"The Straits Times","summary":"BENGALURU (REUTERS, BLOOMBERG) - GameStop is launching a division to develop a marketplace for nonfu","content":"<div>\n<p>BENGALURU (REUTERS, BLOOMBERG) - GameStop is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/gamestop-shares-surge-on-plan-to-enter-nft-crypto-markets\">Web Link</a>\n\n</div>\n","source":"straits_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop shares surge on plan to enter NFT, crypto markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-07 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.straitstimes.com/business/companies-markets/gamestop-shares-surge-on-plan-to-enter-nft-crypto-markets><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BENGALURU (REUTERS, BLOOMBERG) - GameStop is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter ...</p>\n\n<a href=\"https://www.straitstimes.com/business/companies-markets/gamestop-shares-surge-on-plan-to-enter-nft-crypto-markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4076":"电脑与电子产品零售","BK4547":"WSB热门概念","GME":"游戏驿站"},"source_url":"https://www.straitstimes.com/business/companies-markets/gamestop-shares-surge-on-plan-to-enter-nft-crypto-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201629961","content_text":"BENGALURU (REUTERS, BLOOMBERG) - GameStop is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday (Jan 6), driving its shares up 27 per cent in extended trading.\nThe video game retailer is undergoing a revamp, with chairman Ryan Cohen tapping executives from companies including Amazon.com to turn GameStop away from brick-and-mortar and towards e-commerce.\nThe company is asking select game developers and publishers to list NFTs on its marketplace when it launches later this year, the WSJ report said.\n\n\n\nAn NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT's authenticity and who owns it.\nThe retailer has hired more than 20 people to run the unit which is building an online hub for buying, selling and trading NFTs of virtual videogame collectibles such as avatar outfits and weapons, according to the WSJ report.\nGameStop launched its NFT website last year and has been inviting creators to join the platform.\n\n\n\n\nThe company has also been at the forefront of the \"meme\" stock trading frenzy last year, in which retail investors hyped stocks on news site Reddit and brokerage site Robinhood, a blow to several hedge funds that bet the stocks would tumble.\n\nThe largest market for NFTs, OpenSea, has seen an explosion in sales this year, with monthly sales volume peaking at US$3.4 billion (S$4.6 billion) in August, up from US$96.7 million in February, according to Dune Analytics.\nOpenSea makes money by taking a 2.5 per cent cut of every transaction. Seeing this traction, a slew of other NFT marketplaces have sprung up in recent months, hoping to attract users.\nGameStop already has a stable of millions of loyal gamer fans whom it can direct into its own marketplace.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}