GameStop (NYSE:GME) The new year begins quite a bit. Video game retailers are moving beyond their former presence as physical store commerce companies to new areas. Of course, this is not a little done, thanks to the army of private investors trying to raise stock prices. As GameStop announces this week, there is a fundamental bullish surrounding GME stocks. But rumors about another potential partnership have certainly helped to stir the pot.
At the beginning of the month, GameStop Big hit announcementConnecting companies with blockchain projects Immutable X (CCC:IMX-USD). After all, Immutable X provides a significant infrastructure for GameStop’s future non-fungible token (NFT) trading platform.
Initially, this announcement was confusing. Investors have been since the first rumors of the GameStop NFT Marketplace Loop ring (CCC:LRC-USD) It will be a lucky project to work with the company. Of course, this wasn’t a problem for GME and LRC bulls. The company has 8-K filing, Work together Both Invariant X and loop ring At the service.
Microsoft Rumors Buoy GME Stocks For Two Weeks In A
This announcement alone is sufficient to have a tremendous effect on GME’s stock price. Since the announcement, the price of GME has risen by about 20%.However, there is another catalyst that can help increase inventory — exciting. Microsoft (NASDAQ:MSFT) Rumors.
GME inventories have continued to grow since the first Immutable X was announced. Most of these benefits can come from the announcement itself, but there are some stock surveys that investors believe they can expect a Microsoft partnership in the near future.
A few Twitter users this week Stir the chat Around the partnership.Rumors are mainly A series of tweets Between GameStop, Immutable X, and Yorke Rhodes, a core member of the Microsoft blockchain team. Rhodes tweeted a response to GameStop’s announcement, tagging Microsoft and GameStop accounts, and then sparked rumors.
Many theories have emerged around collaboration since investors first focused on tweets. The general sentiment is that a partnership between two stands will bring great benefits to GameStop. It will provide the company with more licensed content. Moreover, Increasing attention to Microsoft’s virtual reality (VR) technologyPartnerships can get GameStop involved in the ever-growing popularity Metaverse industry.
GME stocks are up 4.5% as trading progresses in the afternoon.
Publication date, Brenden Realic The securities mentioned in this article did not have a position (directly or indirectly). The opinions expressed in this article are those of the authors covered by InvestorPlace.com. Public guidelines..