🚀 GameStop is crashing as it pursues Bitcoin strategy

Hire an AI BDR & Get Qualified Meetings On Autopilot

Outbound requires hours of manual work.

Hire Ava who automates your entire outbound demand generation process, including:

• Intent-Driven Lead Discovery Across Dozens of Sources

• High Quality Emails with Human-Level Personalization

• Follow-Up Management

• Email Deliverability Management

Hire Ava to slash costs & boost productivity.

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Meta is suing the developer of CrushAI, an app that uses AI to create nonconsensual nude images, after the company repeatedly violated Meta’s ad rules by promoting the app on Facebook and Instagram. The lawsuit, filed in Hong Kong against Joy Timeline HK Ltd., follows thousands of flagged ads and mounting political pressure, including a letter from Senator Dick Durbin criticizing Meta’s ad oversight. Meta says the app’s misuse of its platform represents a serious threat, prompting new detection tech and coordination with other tech firms to curb similar abuse.

2. GameStop shares plummeted over 15% on Thursday after the company announced a $1.75 billion convertible notes offering to fund its bitcoin-buying strategy, following the purchase of 4,710 bitcoins last month. CEO Ryan Cohen framed the crypto pivot as a hedge against macroeconomic risk, mirroring MicroStrategy’s controversial playbook. But Wall Street remains skeptical, with analysts like Wedbush’s Michael Pachter calling the move speculative and unsound, especially given GameStop’s slumping sales—revenue fell 17% last quarter—and already lofty valuation. The stock has now dropped two days in a row, suggesting investor enthusiasm may be wearing thin.

3. The U.K. economy shrank 0.3% in April, its sharpest monthly decline since the pandemic, as new U.S. trade tariffs and domestic tax hikes took effect. Exports to the U.S. plummeted, with officials blaming President Trump’s global tariff regime and waning business confidence. Domestically, higher national insurance rates and the end of a property tax break also weighed heavily, slashing residential transactions by over 60%. Chancellor Rachel Reeves called the data “disappointing,” while economists warned that the strong first quarter likely frontloaded growth ahead of expected headwinds, setting the stage for a sluggish remainder of 2025.

   Headlines

   1. Hundreds could be dead after an Air India plane crashed.

   2. Tenants are increasingly renting in suburbs, signalling a significant shift in housing trends in the United States.

Are you looking to grow your business? Here is how I can help: 

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

Seeking impartial news? Meet 1440.

Every day, 3.5 million readers turn to 1440 for their factual news. We sift through 100+ sources to bring you a complete summary of politics, global events, business, and culture, all in a brief 5-minute email. Enjoy an impartial news experience.

Join for free today!

Onwards and Upwards,

Liam Gill