GameStop makes its first bitcoin buy. Here’s why the stock is pulling back. - MarketWatch
1. GameStop purchased 4,710 bitcoin amid a price decline in cryptocurrency. 2. Stock fell 5.8% following the announcement after a prior 24.8% rise. 3. New investment policy allows bitcoin as a treasury-reserve asset. 4. GameStop aims to improve financial stability amid declining sales. 5. Company holds $4.775 billion in cash and securities.