GameSquare Holdings, Inc. GAME shares ripped nearly 38% in Tuesday's after-hours trading ahead of a planned conference call to discuss its $100 million Ethereum ETH/USD treasury strategy.

What Happened: The company said it will host a listen-only conference call on Wednesday featuring CEO Justin Kenna, Dialectic founder Ryan Zurrer and Rhydon Lee of Goff Capital.

GameSquare's board greenlighted a proposal last week to invest up to $100 million to build an Ethereum-based treasury. The strategy aims to generate sustainable, risk-adjusted yield through decentralized finance protocols and Ethereum ecosystem assets.

This initiative is backed by a strategic partnership with Dialectic, a company focused on crypto-native capital management.

See Also: Bitcoin Slides Amid Uncertainty On Crypto Bills; Ethereum, Dogecoin Gain: ETH Dominance Needs To ‘Convincingly Break’ 10% For Bullish Bias, Says AnalystFor Breakout As Stablecoins Become ‘ChatGPT Moment’ For Wall Street And Crypto

Price Action:  At the time of writing, ETH was exchanging hands at $3,144.29, up 5.85% in the last 24 hours, according to data from Benzinga Pro.

Shares of GameSquare surged 38.4% in after-hours trading after closing 9.04% at $1.510 during Tuesday's regular trading session.

GAME demonstrated a very high Momentum score—a measure of a stock’s relative strength based on its price movement patterns and volatility over multiple timeframes—as of this writing.

Use Benzinga Edge Stock Rankings to find out how it compares against Bitcoin BTC/USD treasury company Strategy Inc. MSTR.

Photo Courtesy: VPLAB On Shutterstock.com

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