BUZZ-GameStop jumps on report co considering investing in bitcoin, other cryptocurrencies

Shares of video game retailer GameStop GME.N rise ~8% to $28.41 premarket

CNBC after market on Thursday reported GME is considering investing in bitcoin and other cryptocurrencies, citing people familiar with the matter

Companies considering adding bitcoin to their balance sheets would follow the lead of Strategy MSTR.O, which rebranded itself earlier this month to emphasize its commitment to the cryptocurrency space

GME was at the center of 2021's so-called 'meme stock' rally when stock influencer Keith Gill's bullish bets on the company sparked a trading frenzy among mom-and-pop investors

It has grappled with declining sales in its primary business of selling new and used video game discs due to a shift to digital downloads, game streaming, and e-commerce shopping

GME did not immediately respond to Reuters' request for comment on the CNBC report