GameStop Corp (NYSE:GME) shares are experiencing volatile price action amid excitement around Thursday’s launch of the Nintendo Switch 2 and growing interest in GameStop's strategic pivot toward Bitcoin.
What To Know: The video game retailer is set to report earnings next Tuesday, June 10. Analysts expect EPS of 4 cents, a turnaround from the prior quarter's loss of 12 cents. Revenue is forecast at $754.23 million, down from $881.8 million in the previous quarter.
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GameStop has recently surged on news that it added 4,710 Bitcoins to its balance sheet, following its board's approval of Bitcoin as a treasury reserve asset earlier this year. The stock is up roughly 13% in the past month, helped by retail enthusiasm and a broader crypto rally that pushed Bitcoin above $110,000 in late May.
The launch of the highly anticipated Switch 2, powered by Nvidia Corp’s new AI-enhanced chip, has also fueled interest in GameStop shares, as the console's release could drive demand for gaming hardware and accessories, key segments for the retailer.
Investors will meanwhile be watching closely on Tuesday to see if GameStop's results and crypto strategy continue to support its rally.
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How To Buy GME Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in GameStop’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, GME has a 52-week high of $48.00 and a 52-week low of $18.73.
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