Shares of GameStop and MicroStrategy were on the rise Monday after Ryan Cohen, CEO of the video game retailer, posted a photo with Michael Saylor, co-founder and chairman of the largest corporate holder of bitcoin.

GameStop and MicroStrategy shares popped on Monday on speculation that the struggling video game retailer might embrace crypto. The famed meme stocks boss Ryan Cohen posted a photo over the weekend with MicroStrategy CEO Michael Saylor,

GameStop offered its own cryptocurrency wallet years ago but axed the feature in late 2023 over "regulatory uncertainty in the crypto space.”

Shares of GameStop (GME) have jumped 7% higher after company CEO Ryan Cohen posted a photo online of him and Strategy (MSTR) Chairman Michael

Cryptocurrencies themed on video game retailer GameStop Corp. (NYSE:GME) were up in the green Monday, buoyed by interest in CEO Ryan Cohen’s picture with Strategy co-founder Michael Saylor.

Meme stocks like AMC Entertainment and GameStop get their price spikes from exceptional buying interest. GameStop jumped on Monday, rebounding from the 200-day moving average. Shares rose after  GameStop Chief Executive Officer Ryan Cohen posted a picture of himself with MicroStrategy CEO Michael Saylor.

Key Takeaways Shares of GameStop and MicroStrategy climbed Monday following a social media post over the weekend.GameStop CEO Ryan Cohen posted a picture early Saturday of himself with MicroStrategy cofounder Michael Saylor,