GameStop Stock Pops Off 6‑Day Slide: Retail Buzz Builds Around New Digital Trading Cards Platform

Retail buzz around GameStop (GME) intensified on Thursday, as the video game retailer’s stock snapped a six-session losing streak and investors grew more upbeat following its latest digital push into trading cards.

GameStop has been high on investors' radar after its recent play to buy Bitcoin as a treasury asset, and a resurgence in meme stock activity that has lifted stocks like Opendoor Technologies (OPEN), Krispy Kreme (DNUT), and American Eagle (AEO), among others. However, some were frustrated by GME's poor performance in recent weeks.

On Stocktwits, the retail sentiment shifted to 'bullish' as of late Thursday, from 'bearish' the previous day. Message volume surged nearly 120% in the past 24-hour period, and GME was among the top 10 most active tickers on the platform at the time of writing.

Earlier in the week, GameStop announced a new platform that enables buying, trading, and storing of collector cards digitally, marking a significant push into the segment.

The platform — launched in beta with a broader rollout planned for the future — essentially takes the trading cards experience online; users will even see animations of opening a pack of cards. 

GameStop said the digital "Power Packs", which will include Pokémon and football offerings, can be stored in the PSA Vault, delivered to the buyer, or sold on eBay. GameStop already sells certain PSA-certified trading cards at its stores.

A few Stocktwits users claimed they increased their position in the stock, with the expectation of gains in the coming days.

A user remarked that the trading cards offering "looks cool" and "might not be enough imo," given the weakness in GameStop's core business.

Yet another speculated that “Roaring Kitty,” a YouTuber and investor best known for his role in the GameStop stock saga of early 2021, might make an appearance on Friday.

GameStop shares are down roughly 25% and have traded in a tight range since its June 10 earnings report, which highlighted continued declines in its core video game retail business even as the company closes more stores.

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