Following reports outlining GameStop’s new NFT division, the price of GME jumped around 26% in after-hours trading.
reportAn unnamed source familiar with GameStop’s plans told the outlet that the unit is building an NFT platform that enables the buying, selling and trading of gaming NFTs, along with establishing key cryptocurrency partnerships.
The news was warmly welcomed by after-hour traders who drove the price of GME up 26% since th market close to sit at $162.48 at the time of writing according to Tradingview. After-hours trading is often quite volatile due to a lack of liquidity in the market but impacts the price of a stock in a similar way to regular trading.
“Sorry, but I don't believe the movement in price after hours has to do with the WSJ posting about the Gamestop NFT market. I think something else is happening and this article was put out to give the NFT market as the scapegoat for the price increase.”
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