Yahoo Finance GameStop unveils crypto wallet for NFT marketplace
Yahoo Finance Live anchors discuss the launch of GameStop’s crypto wallet.
Video transcript
- And then one more mover we're watching is GameStop.
- Yes.
- Now, we didn't get the news on the NFT marketplace, the much vaunted, the much promise, but we did get news on a related note. The company is launching now a crypto wallet, a digital asset wallet for storing, sending, and receiving crypto, as well as NFTs. And this is in preparation for that NFT marketplace when it does come out. It's expected to launch in the second quarter of its fiscal year. So I wish--
- That would be this quarter, I think.
- Well, it's on a fiscal year. So I don't know--
Yeah, well, they reported according to the regular calendar or so. It should be 6 weeks or fewer.
- That would be around now some time. I was looking at the short interest in GameStop this morning what it currently stands out because obviously, a lot of the action was a short squeeze, right? So it's still about 21% of float. So it's still pretty high.
- I'm looking at GameStop on the Wi-Fi interactive here. I have a year to date chart up and we are still in the bottom end of the range. Now, we saw Meme Stocks perk up in general late last week. I believe they had a couple of good days, they had a couple good runs. But for the most part, they've been under pressure like everything else.
And you've got to wonder what the Reddit army's plans are for the eventual turnaround, because GameStop has really been a black box up to this point, right? Ryan Cohen has been leading the show there but we haven't gotten a lot of strategy talk from them. And I think their investor calls on earnings. They have been frustratingly short for Brian Sozzi here, who we're going to talk to. He's in Davos later too.
- Yes, exactly. Yes, he's definitely talked a lot about how those calls have not given a little of detail.
- Very irritated with that.
- We have talked. I mean, it's true that we have not gotten much detail on that.
