Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Mark R. Hake, CFA

GameStop's Bitcoin Purchase and Potential Debt Conversion Increases GME's Value

GME GameStop Bitcoin Barchart NLA

GameStop (GME) announced this week that it purchased 4,710 Bitcoin, now worth $492 million. With the recent rise in GME stock, allowing the conversion of its convertibles into equity, GME stock looks undervalued at about $40 per share, using a Sum-of-the-Parts (SOTP) valuation method. Moreover, shorting out-of-the-money (OTM) puts look attractive here for value investors.

GME closed at $29.80 on Friday, May 30, up +7% in the last month after peaking at $35.01 on May 27. I discussed GME's value in a recent Barchart article, “GameStop Stock Could Surge From Here - All Eyes are On Its Results.”

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Why Some Foods Taste Better When You Eat Them With a Plastic Fork
Have you ever noticed that a fast-food salad, a takeout pasta dish, or a slice of cake seems more satisfying when you eat it with a flimsy plastic fork? The food itself has not changed, yet the experience can feel different from eating the same meal with silverware at home.…
Grocery Coupon Guide
Grocery Coupon Guide
Table for 1? Nearly 40 percent of all restaurant visits are solo diners
More people are embracing the idea of taking themselves out on a date in recent years, with one New York City-based influencer telling her viewers: ‘It’s hard for me to want a boyfriend because I take myself on cute solo dates’
The Independent UK
The Independent UK
The Hidden Difference Between “Natural” and “Organic” on Food Labels
Walk down a grocery store aisle, and you will find packages promising everything from natural ingredients to certified organic products. Both labels can make food sound healthier, cleaner, or closer to the way nature intended, but they do not mean the same thing. One generally describes certain characteristics of a…
Grocery Coupon Guide
Grocery Coupon Guide
Is having urine the color of Mountain Dew normal?
A Trump administration doctor says neon yellow urine is normal because of diets consisting entirely of meat and fermented foods. Here’s what experts say
The Guardian - US
The Guardian - US
Country Music Star Accused of Satanism Rips Online 'Parasites' Pushing a Highly Negative Narrative
Zac Brown rejects satanic claims about his Las Vegas Sphere shows, calling online critics 'parasites' and explaining the personal story behind the imagery. Copy
International Business Times UK
International Business Times UK
Nicki Minaj's Lawyers Reportedly Want To Quit Rapper's 'Unreasonably Difficult' Jingle Ball Lawsuit
Nicki Minaj's lawyers are seeking to withdraw from a $275K Jingle Ball lawsuit, citing irreconcilable differences and a breakdown in communication.
International Business Times UK
International Business Times UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play