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GameStop's Bold Bitcoin Bet
And, Tesla’s rough 2025, explained.
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Today is Wednesday, March 26, 2025.
The Early Bird Index today is 74.07
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GameStop's Bold Bitcoin Bet 🚀
GameStop $GME ( ▲ 2.2% ) jumped 8.27% in after-hours trading on Tuesday and it wasn’t just because of its financial earnings results released on the same day.
Financials: GameStop reported earnings of 30 cents per share in the past quarter, which was better than expected. Revenue was $1.28 billion, which was lower than expected.
Powering the Story: The gaming company generated buzz on Tuesday when it announced that its board unanimously approved an update to its investment policy to add Bitcoin $BTC.X ( ▼ 0.19% ) as a treasury reserve asset.
Early Bird’s Nest Egg Gains: GameStop's decision to invest in Bitcoin as a treasury reserve asset offers several potential benefits.
The company gains financial flexibility, grows investor enthusiasm, and is set up for a potential value appreciation.
Final Thoughts: GameStop hopes its Bitcoin announcement will result in good things. The stock was down 17% this year.
Notables
Notable Earnings Today: Dollar Tree (Nasdaq: DLTR), Chewy (NYSE: CHWY), Concentrix (Nasdaq: CNXC), Target Hospitality (Nasdaq: TH), JinkoSolar (NYSE: JKS), Petco Health and Wellness (Nasdaq: WOOF), H.B. Fuller (NYSE: FUL), Steelcase (NYSE: SCS), Paychex (Nasdaq: PAYX), Verint Systems (Nasdaq: VRNT), Jefferies (NYSE: JEF), Cintas (Nasdaq: CTAS), MillerKnoll (Nasdaq: MLKN), Allurion Technologies (NYSE: ALUR), BRP (Nasdaq: DOOO), Canaan (Nasdaq: CAN), CollPlant Biotechnologies (CLGN), MicroVision (Nasdaq: MVIS), Usio (Nasdaq: USIO).
Notable IPOs Today: Epsium Enterprise Limited Ordinary Shares (Nasdaq: EPSM), NeOnc Technologies Holdings, Inc. Common Stock (Nasdaq: NTHI).
Notable Equity Crowdfunding Campaigns Ending Today: Doorvest (Wefunder), Cleverman (Republic), Mirra Mirror (Honeycomb), PoliTech AI (Republic).
Notable Economic Events Today: Durable Goods Orders (8:30 a.m. ET), Crude Oil Inventories (9:30 a.m. ET).
Tesla’s Rough 2025, Explained
With its stock losing about a quarter of its value in 2025, let’s explore why Tesla $TSLA ( ▼ 3.38% ) is in the middle of one of its worst years.
Declining Sales: Tesla's global vehicle sales have fallen sharply, with significant drops in key markets such as Europe and China (down 49% last month). Analysts have revised 2025 delivery estimates downward.
Competition: Domestic competitors in China, the United States, and Europe are gaining ground. BYD introduced advanced battery technology that outperforms Tesla's charging capabilities.
Politics: Elon Musk's political involvement, including his alignment with controversial figures and policies, has negatively impacted Tesla's brand image.
Final Thoughts: Despite the bad start to 2025, Tesla can still turn things around.
Avalanche’s Strong Tuesday
The price of the cryptocurrency Avalanche $AVAX.X ( ▼ 2.38% ) jumped about 5% on Tuesday thanks to bullish momentum and new Avalanche network developments.
Final Thoughts: Avalanche has still been down about 5% in the last 30 days.
Trends to Watch
Bubblicious: Chinese bubble tea chain Chagee files for U.S. initial public offering (CNBC)
Trying to be Stable: Trump Family Venture Plunges Deeper Into Crypto With New ‘Stablecoin’ (Wall Street Journal)
Party Like it’s 1999: Napster sold to tech commerce company for $207 million (Associated Press)
Not Confident: Consumer confidence plummets to lowest level since January 2021 (CNN)
GSK Breakthrough: FDA approves first new antibiotic for UTIs in nearly 30 years (NBC News)
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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.