The Rundown GameStop Buys $500M in Bitcoin, Abercrombie Soars on Earnings Beat
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May 28, 2025 Stock market dynamics are shifting as GameStop announces a bold $500 million investment in Bitcoin, stirring reactions among investors. Retail earnings from Abercrombie surprise positively, while Macy's and Dick's Sporting Goods face challenges due to tariffs. Meanwhile, insights into OnlyFans reveal potential sale discussions amid profitability concerns. The contrast between thriving brands and those struggling highlights the changing landscape of corporate earnings.
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Nvidia's China Export Challenge
- Nvidia's stock rallied 40% from April lows due to optimism despite China's export restrictions.
- Investors await CEO Jensen Huang's strategy to counter $5 billion lost revenue from U.S. export bans.
Tariff Effects on Retailers
- Retail earnings reveal uneven tariff impacts; Dick's Sporting Goods stays confident, Macy's cuts profit outlook but beat sales.
- Macy's turnaround focuses on store closures and investments to combat macroeconomic uncertainty.
GameStop Joins Bitcoin Treasury
- GameStop bought 4,710 Bitcoin worth over $500 million and plans to raise more debt to build a Bitcoin treasury.
- This mimics MicroStrategy's successful strategy, signaling a shift where companies monetize Bitcoin holdings.