In GameStop’s first quarter earning results, CEO Ryan Cohen says the company’s focus for the future will pivot towards trading cards, not video games.
Earlier in the week, GameStop dropped its Q1 2025 financial report and there were numerous claims made in the statement that may leave loyal consumers to the retail chain confused. First off, GameStop has disclosed their future business strategy with two startling decisions, the first being the disclosure that GameStop has purchased “4,710 Bitcoin between May 3, 2025 and June 10, 2025 for cash.” The second decision is CEO Ryan Cohen’s suggestion that GameStop’s focus should pivot toward the trading card business moving forward. Trading card sales accounted for 29% of the company’s overall sales for the quarter notably outpacing video game sales.
GameStop has been expanding Trading Card Game services over the past year, with an in-store way to get cards graded by PSA, and selling graded slabs from their online storefront all in one calendar year. With the recent financial report, it appears the company will continue to expand these services at the cost of their namesake. Currently, a BitCoin is worth just over $105,000 (thanks, Google Finance) and over the past month that price point has proven volatile with a low of $102,000 and a high of $112,000 in May 2025 alone. 4,710 is a massive amount of BitCoin, equalling nearly $500 million in trades from May 3 to June 10, the amount the company reported on its financial earnings.
Since the financial report released this week, GameStop’s stock has fallen by a significant margin reaching a total of 23% loss since June 9. It’s worth noting that the retailer made huge errors during Nintendo Switch 2 launch week (it launched in the first week of June also), with reports of customers receiving staple damage on the console’s display screen due to receipts stapled to the box.
As of this posting, the financial report from the retailer’s quarterly earnings can be seen on their official site and GameStop has yet to provide any additional comment on their previous issues with the Nintendo Switch 2 launch, or their focus seemingly shifting away from video games.
