US Stock Market Move | It is expected to become a potential acquisition target by GameStop Corp. Class A (GME.US), and Best Buy Co., Inc. (BBY.US) rises more than 4% against the market trend.

On Thursday, Best Buy Co., Inc. (BBY.US) stock price rose against the market trend, up over 4% to $62.9 as of press time. Investors speculated that it could be a potential acquisition target for GameStop Corp. Class A (GME.US). Earlier, GameStop Corp. Class A Chairman and CEO Ryan Cohen had stated at the end of January that the company planned to make a "very, very, very significant acquisition" targeting a larger consumer company to facilitate business transformation. Gordon Haskett analyst Don Bilson indicated in a recent report that GameStop Corp. Class A may have established related positions through derivatives and hinted at positioning around potential acquisition targets. However, the institution did not specify the specific target. In the latest 10-K annual report submitted by GameStop Corp. Class A, the company disclosed that it had deposited approximately $700 million in cash into accounts to be used as collateral for certain existing and potential derivative transactions. Analysts believe this arrangement may be related to its mergers or investment plans. Bilson noted that he had speculated Best Buy Co., Inc. could be one of the acquisition targets, pointing out some significant broker trading activity in the stock during the fourth quarter of last year. However, he also noted that the timing of this activity does not fully align with GameStop Corp. Class A's statement that the funds would only be used after the end of the fiscal year.