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GameStop Stock Drops 22% Daily Amid Bitcoin Pivot, Sparking Investor Scepticism

  • GameStop shares plunged over 22% after announcing plans to invest in Bitcoin, sparking investor scepticism.
  • Investors expressed concerns over unclear long-term strategy and potential risks to GameStop's core retail operations.
  • The move to invest in Bitcoin was funded by proceeds from a $1.3B convertible bond sale.
  • Analysts question the timing of GameStop's decision and the impact on their overall business model.

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