What’s next for GameStop’s stock? These 3 pros weigh in

Shares of GameStop Corp. (NYSE: GME) peaked near $200 this week and ended Friday at around the $100 per share mark. As volatility in the video game retailer kicked into high gear once again, several pros offered their take on what could happen next.

Cramer: Can GameStop expand to crypto?

CNBC host and commentator Jim Cramer questioned if GameStop can have a future in the cryptocurrency arena. He questioned if GameStop can turn itself into a “5,000-store introduction to crypto” by selling $1 billion worth of stock and exchanging it for bitcoin, he said on CNBC.

The company could evolve to become an “international gaming place where you win bitcoin” and perhaps the stock’s price can be justified, Cramer said. Such a move wouldn’t necessarily be unheard of, as recent fintech giants like Square Inc (NYSE: SQ) announced on Feb. 23 it bought an additional $170 million dollars worth of bitcoin that it is keeping in its balance sheet.

While perhaps commenting half sarcastically (or more), Cramer did note that GameStop ousted its CFO Jim Bell last week, perhaps because he resisted moving into bitcoin and cryptocurrencies. CFOs in general prefer not to allocate cash to bitcoin on their balance sheet but this might be part of recent board addition Ryan Cohen who is a “big thinker.”

“I have a feeling that this is the way to get this stock higher,” Cramer said. “I can’t come up with another way.”

SEC attorney: Regulators are watching

Alma Angotti, a former Securities and Exchange Commission enforcement attorney separately told CNBC that the recent GameStop saga will catch the attention of both the US Congress and the SEC.

In particular, the perhaps cryptic ice cream tweet that Cohen presented to the world plays into the importance of accurate disclosures. Some investors are speculating that Cohen’s hidden message alludes to a bigger role he will play at GameStop as part of the company’s transformation to become a digital-focused company.

Angotti said:

“I think both Congress and the SEC will be studying that balance between orderly markets and letting people invest what they want to invest for whatever reasons they want to invest even if it doesn’t make sense to us.”

Market strategist: ‘Be careful’

Perhaps lost behind all the drama is that investors need to always “ be careful,” MKM Partners Chief Economist and Market Strategist Michael Darda told CNBC. Investors have every right to speculate and invest how they believe is best for themselves and family.

But speculative trades “should be a super tiny portion” of your portfolio and “don’t expect any of this stuff to be a one-way bet,” he said.