National retailer set to close “significant number’ of stores, plans to invest in crypto

Having already shuttered hundreds of locations in recent months, video game retailer GameStop says more closures are coming. According to CNN, a regulatory filing Tuesday shows GameStop plans to close a “significant number” of stores in the coming months.
Along with shuttering locations, GameStop says it will being investing cash into cryptocurrency markets like Bitcoin. The announcement was met with enthusiasm from investors as GameStop stock (GME) is up 13% as of 12:15 p.m. Wednesday.
GameStop did not release a list of stores that it plans to close in coming months. The company has closed more than 1,000 stores in the last year and it struggles to keep up with customer habits. The shift to digital video games and streaming platforms has hurt GameStop as it largely deals in physical media.
An estimated 3,200 GameStop locations remain open worldwide, with approximately 2,300 of those stores in the U.S.