TechFlow news, on February 14, according to Jinshi Data, three sources reported that GameStop is exploring investments in alternative asset classes, particularly cryptocurrencies and Bitcoin. Following the news, GameStop's stock surged as much as 20% in extended trading. However, GameStop may ultimately decide against making these investments, with one source indicating that the company is still evaluating whether such moves would be meaningful for its business.
In December 2023, GameStop's board approved a new "investment policy." This policy allows Cohen, together with two independent board members and other necessary staff, to manage GameStop's securities portfolio. All investments must either comply with the guidelines set forth in the policy or be unanimously approved by the committee or passed by a majority vote of the board.
