"GameStop Stock Surges 10% on Cohen-Saylor Meeting Speculation"

GameStop's stock price surged by 10% on Monday, February 10, 2025, following a social media post by CEO Ryan Cohen. The post featured a photograph of Cohen with Michael Saylor, the executive chair of Strategy (formerly MicroStrategy), sparking speculation about potential Bitcoin investments.

The stock movement marked GameStop's largest daily percentage increase since December 11, 2024, when it rose by 7.6%. The company's shares have now grown by 79.2% over the past twelve months, compared to the S&P 500's growth of 20.6% during the same period.

Ryan Cohen, who founded online pet-supplies retailer Chewy Inc., took on the role of GameStop's CEO in September 2023. The meeting with Saylor has fueled discussions about potential cryptocurrency strategies for the video game retailer, following Cohen's recent transfer of GME shares from his LLC to his personal name on January 27.

Strategy, under Saylor's leadership, has become the largest corporate holder of Bitcoin, with holdings of approximately 470,000 BTC, valued at around $50 billion. The company recently announced it's nearly halfway through its plan to purchase $42 billion worth of Bitcoin.

In December 2023, GameStop's board of directors implemented a new investment policy. This policy gives Cohen the authority to manage the company's investment portfolio and permits investments in equity securities, among other assets.

This isn't GameStop's first venture into digital assets. The company previously launched cryptocurrency wallets for non-fungible tokens (NFTs). However, this initiative was discontinued in 2023, with the company citing regulatory uncertainty as the primary reason.

The photograph posted by Cohen did not include any context about the nature or purpose of the meeting with Saylor. Neither GameStop nor Strategy has made official statements about any potential collaboration or Bitcoin-related plans.

Monday's market response showed the continuing influence of social media on GameStop's stock price. The company's market value increased by more than a billion dollars following the posted photograph.

GameStop's stock movement follows a pattern of sensitivity to social media activity, particularly posts from key figures associated with the company. This includes previous