And GameStop has its fingers in various crypto products already as it seeks to remake itself for a new era. People who invest in meme stocks are also likely to invest in crypto. Does the GameStop/FTX partnership make sense? Sure.In a press release, GameStop says it is “collaborating with FTX on new ecommerce and online marketing initiatives.” Oh, and it will also carry FTX gift cards in certain stores. What does the partnership involve? That’s actually pretty vague.GameStop says it will be FTX’s “preferred retail partner in the United States.”
What’s with the FTX deal? FTX is a crypto exchange where people can buy and sell cryptocurrencies and NFTs.Second, GameStop announced it will invest in its faltering stores. First, it announced a deal with crypto exchange FTX. But GameStop did announce some news which probably gives investors hope. If things were bad, why is GME stock up? Eh, with a meme stock, there is usually no definitive answer to why it rises.Yet despite the disappointing results, GME stock is up almost 10% in pre-market trading today. What’s happened? GameStop announced its Q2 2022 results and they were disappointing.So what gives? Here’s what you need to know: Despite this, GameStop stock (ticker: GME) is up nearly 10% in pre-market trading.
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