GameStop Stock Rises as Earnings Top Estimates, Company Buys Bitcoin
1. GameStop's Q2 results exceeded estimates, driven by hardware and collectibles sales. 2. The company purchased 4,710 bitcoin worth $528.6 million, enhancing its digital asset portfolio. 3. GameStop plans a special dividend in the form of warrants for shareholders next month. 4. Shares rose 6% post-earnings, but are down 20% year-to-date. 5. Hardware sales increased 31%, while software revenue dropped 27%.