GameStop on Wednesday announced it has bought 4,710 bitcoin, worth over $500 million as the video game retailer makes its first major foray into cryptocurrency. GameStop’s stock price jumped 92 cents, or 2.6%, to $35.97 before the start of trade Wednesday. The shares, dubbed a “meme stock” in recent years as retail investors piled into the company despite its lack of profits, has surged more than 84% over the last 12 months. —This is a developing story and will be updated. Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting. © 2025 CBS Interactive Inc. All Rights Reserved.
