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Investing.com -- Quantum BioPharma Ltd. (NASDAQ:QNTM) stock fell 5.7% after the company announced it purchased 2,000 shares of GameStop Corp . (NYSE:GME) as what it described as a "strategic investment."
The biopharmaceutical company, which focuses on neurodegenerative disorders, said the move aligns with its "commitment to combating market corruption and enhancing shareholder value." According to the announcement, the company views the GameStop acquisition as a step toward deploying capital toward undervalued assets with strong fundamentals.
"The Quantum team and I see the extreme value in GameStop going forward and the deep value the company has with 90% cash and marketable securities on their balance sheet," said Kevin Malone, Board Advisor to Quantum BioPharma.
The company has positioned itself as fighting against market manipulation, citing recent appointments of advocates against naked short selling and its ongoing legal action against CIBC (TSX:CM) World Markets, RBC Dominion Securities, and others. Quantum is seeking damages exceeding $700 million USD for alleged stock price manipulation between January 2020 and August 2024.
In parallel with these efforts, Quantum BioPharma continues to advance its Multiple Sclerosis patented treatment asset and has announced intentions to declare a special dividend of contingent value rights tied to potential litigation settlements.
The company also disclosed it has completed a debt settlement of $40,000 with an arm’s length creditor through the issuance of Class B shares in June and July 2025.
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