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Benzinga

Business

Melanie Schaffer

GameStop Soars Amid Immutable X Profits: What's Next For The Stock?

GameStop Gamestop Corporation NYSE

GameStop Corporation (NYSE:GME) was surgin 14% on Tuesday after above-average volume began to enter into the stock at around 1 a.m. EST. The move caused the stock to print a higher high at the $117.35 level, which was above the Feb. 1 high of $116.65.

On Feb. 3, GameStop announced it had partnered with Ethereum (CRYPTO: ETH) Layer 2 solution Immutable X (CRYPTO: IMX) for its new NFT marketplace. GameStop immediately began selling the crypto and as of Monday it had cashed out a total of $47 million worth of Immutable X tokens.

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