CEO Ryan Cohen says GameStop will focus on trading cards, not video games, as stock plummets 20%

• GameStop says it plans to focus on the trading-card business moving forward. This comes as the video game industry grows increasingly digital. Shares of the company fell 20% Thursday following an announcement of a bond sale.

GameStop is pouring money into Bitcoin, but that’s not the company’s main focus these days.

As the video game industry goes increasingly digital, cutting out retailers for software sales, GameStop is pivoting toward the trading-card business...