Think GameStop's 150% Yearly Jump Was Wild? Check Out Its Namesake Memecoin, Which Leaves It In The Dust With A 5X Surge

GameStop Corp. (NYSE:GME), the video game retailer turned meme stock sensation, has seen its stock price skyrocket over the past year, leaving many Wall Street giants in the dust.

What happened: GameStop shares have netted returns of over 154% to their holders in the past year, outperforming tech behemoths such as Nvidia Corp. (NASDAQ:NVDA), Tesla Inc. (NASDAQ:TSLA), and Microsoft Corp. (NASDAQ:MSFT).

A combination of factors has worked in the company's favor, including the social media influence of popular trader Keith Gill, aka “Roaring Kitty,” and the adoption of the world's largest cryptocurrency, Bitcoin (CRYPTO: BTC), as a treasury reserve asset.

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While GameStop’s advances have boosted investor confidence, it is worth noting that a namesake cryptocurrency has produced significantly larger returns during the same time.

GameStop Coin (GME), based on the BNB Chain (CRYPTO: BNB), has exploded 471% in the last year. The token hit an all-time high in mid-December, coinciding with the cryptocurrency market bull run.

Note that the meme coin has nothing to do with GameStop, and it simply capitalizes on positive developments about the meme stock. The lack of fundamentals has resulted in wild fluctuations and short-lived rallies. As of this writing, it was trading 86% below its peak value.

Price Action: Shares of GME dipped 0.04% in after-hours trading after closing 1.69% lower at $26.25 during Wednesday’s regular session, according to data from Benzinga Pro. Year-to-date, the stock has dropped 16.24%.

GameStop demonstrated high momentum—a measure of a stock’s relative strength based on its price movement patterns and volatility. To compare the performance of other companies using Bitcoin, head to Benzinga’s Edge Rankings score.

At the time of writing, the GameStop memecoin traded at $0.00005588, up 5.65% in the last 24 hours.

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