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erienewsnow.com 07 Jan, 2022 21:00 am

GameStop shares jump 20% on report it will launch NFT marketplace - Erie News Now

GameStop shares jump 20% on report it will launch NFT marketplace - Erie News Now
By Ramishah Maruf, CNN Business

After a wild 2021 for the video game retailer as a "meme stock" with lots of attention on Reddit, shares have fallen almost 12% in the new year as of Thursday's close, though that narrowed to down 6% year-to-date as of midday Friday.CNN Business has reached out to GameStop for comment on the WSJ report, which said the company plans to allow people to buy, sell and trade NFTs for virtual video game goods — think avatar outfits and weapons — on the marketplace.By Ramishah Maruf, CNN Business The calendar changed, but the roller coaster ride for GameStop's stock continues.The NFT marketplace news comes almost a year after GameStop shares began surging thanks to amateur daytime traders on Reddit's WallStreetBets forum, popularizing the "meme stock.

GameStop stock is up more than 673% over the last 12 months, but it's still well below its all-time high.GameStop shares jumped as much as 20% Friday morning after the Wall Street Journal reported the company is creating a nonfungible token, or NFT, marketplace.

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