GameStop shares tumbled this week after the videogame retailer’s first-quarter results showed a revenue shortfall and raised fresh doubts about its strategy. The stock fell as much as 30% in two days and was roughly 21% lower for the week, including a 4.6% pre-market slide immediately following the earnings release. The company posted earnings of $0.17 a share for the quarter ended in May, more than double analysts’ $0.08 forecast, but revenue slipped to $732.4 million, missing the $750 million consensus estimate. The disappointing top-line figure reinforced concerns that GameStop’s core videogame business is losing momentum. At the annual shareholder meeting on 12 June, Chief Executive Officer Ryan Cohen said GameStop will focus on expanding its Pokémon and sports trading-card operations, calling the category “deeply embedded in physical retail” and well suited to the company’s trade-in model. The pivot, however, did little to stem the sell-off. Investors also questioned the retailer’s recent foray into digital assets. In May, GameStop bought 4,710 Bitcoin for about $513 million and this week outlined plans to raise roughly $1.75 billion, a move viewed as financing for further cryptocurrency holdings. The added exposure to volatile crypto markets compounded worries about the company’s growth outlook and capital allocation.