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Wall Street Breakfast
GameStop plot thickens
Feb 18, 2025
GameStop is stirring the pot with asset sales in Canada and France, hinting at a potential pivot towards cryptocurrency. Super Micro Computer has seen a stunning resurgence, doubling its stock price from recent lows. Meanwhile, Intel's shares are buzzing with rumors of a strategic deal with TSM-Broadcom. Interestingly, 90% of fund managers consider U.S. stocks overvalued, a sentiment not felt this strongly since 2001. Economic insights reveal increasing demand for durable goods amid manufacturing pricing pressures.
05:20
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Quick takeaways
- GameStop's consideration of selling its Canadian and French operations highlights its strategic reevaluation of international assets amid market shifts.
- The rise in the Empire State Manufacturing Index suggests economic expansion despite inflationary pressures, influencing fund managers to reassess investment strategies.
Deep dives
GameStop's Strategic Shift
GameStop is considering the sale of its operations in France and Canada as part of an evaluation of its international assets. This strategic decision comes on the heels of speculation about the company's potential re-entry into the crypto market, particularly with Bitcoin, fueled by its significant cash reserves of $4.6 billion. Although GameStop has previously launched a cryptocurrency wallet, it remains cautious about further investments in this space, indicating a careful approach to exploring alternative asset classes. This juxtaposition of divesting international operations while investigating crypto investments demonstrates GameStop's complex relationship with evolving market trends.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode