GameStop announces Bitcoin hoarding... Stock price plummets 11%

When GameStop, a typical Wall Street meme stock, announced that it would buy up all of Bitcoin, its stock price actually plummeted by nearly 11%.
On the 28th (local time) on the New York market, GameStop's stock price plummeted 10.85% to $31.21.
This is because, even though GameStop is a trendy stock that is called the ancestor of meme stocks in the U.S. stock market, if you buy Bitcoin, your business condition will be even worse.
It is analyzed that the situation is likely to worsen further as the company will have to issue convertible bonds to raise funds to buy up Bitcoin.
Experts agree. On the same day, GameStop announced plans to buy $500 million in Bitcoin. Last March, the company also announced plans to buy $500 million in Bitcoin through a board meeting led by billionaire Ryan Cohen.
announced that they had unanimously decided to buy Bitcoin. The day after this news was released, the stock price crashed by 25%.