GameStop’s Future Is In Trading Cards, According to CEO

GameStop Corp Chief Executive Ryan Cohen said the video game retailer plans to expand its trading card business, calling it a natural fit for the company's retail model, according to remarks at the company's annual shareholder meeting earlier this week Acknowledging the resurgence of Pokémon card sets recently, the CEO called trading cards a “natural extension” of GameStop’s business and said that it is in line with the company’s heritage. GameStop is taking into account the potential of collectibles to turn a high profit margin.

This news comes at a time when the company is shifting its strategy to buy bitcoin. Videogame and entertainment news website GameSpot reported that GameStop’s revenue in the first quarter of 2025 increased by over 50% on a year-over-year basis, mainly due to Pokémon.

GameStop’s Recent Shift in Business Strategy

At a recent shareholder meeting, GameStop's CEO shared plans to shift its focus from video games to its growing trading card business. Noting the business of Pokémon, Magic the Gathering, and other sports cards, Cohen reportedly said they were “in line with our heritage. It fits our trade-in model, it appeals to our core customer base, and it’s deeply embedded in physical retail.” 

It should be noted that there has been a resurgence of Pokémon cards recently, with card sets selling like hot cakes. This was evident with the Destined Rivals set that was launched on 30th May. Card sets have also become hard for enthusiasts to get their hands on. This is mainly due to scalpers buying up supplies and selling off Pokémon products like cards, special boxes, and other accessories at very high rates.

GameStop has reportedly graded over one million cards with the Professional Sports Authenticator, as it has been expanding its Pokémon card services. While the store does not grade the cards, it offers a service where people can drop off their cards at the store and pay an extra fee to have GameStop handle the process on their behalf.

GameStop also recently pivoted to investing in bitcoin. The company currently owns 4710 Bitcoin. Explaining the move, in an interview, Ryan Cohen said, “If the thesis is correct, then Bitcoin and gold as well can be a hedge against global currency devaluation and systemic risk. Bitcoin has certain unique advantages better than gold.”

Notably, GameStop’s shares fell sharply on 12th June after the video game retailer announced plans to raise $1.75 Billion USD through a convertible debt offering. Its stock declined by 20%, dropping from $28.50 USD to $23 USD during Thursday’s trading session.