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GameStop Corp. is set to report second-quarter results after the market closes on Tuesday, with the original meme stock moving further away from its traditional bricks-and-mortar videogame business into areas such as bitcoin.
Last quarter, GameStop
GME reported a fourth consecutive quarterly profit, despite revenue that missed Wall Street’s expectations. Meanwhile, the company’s hoard of cash and marketable securities jumped to $6.4 billion from $1 billion at the end of the prior year’s quarter. This cash, and more specifically, how GameStop CEO Ryan Cohen plans to use it, remains firmly in the spotlight.
