Benzinga | Jun 9, 2021 03:43PM EDT

GameStop And Cryptocurrency? Jim Cramer Weighs In On Retail Frenzy

Jim Cramer said he expects the meme-stock mania to continue.

"What else is there to do," Cramer said Wednesday afternoon on CNBC, adding that he expects the retail stock frenzy to get even hotter than it already is.

If GameStop Corp (NYSE:GME) announces that it's working on something exciting, the retail traders could take the stock to $400 per share, he said.

Cramer thinks GameStop should transition into a cryptocurrency bank. If the company were to affiliate itself with crypto in one way or another, "it's to the moon" for the stock, he said.

GameStop is set to report earnings after the market closes today.

Related Link: Gamestop Earnings Preview And The Uniqueness Of Options In Meme Stocks Like GME And AMC

The company recently announced that Ryan Cohen, the co-founder of Chewy Inc (NYSE:CHWY), is going to be appointed as chairman of the board after the company's annual shareholder meeting today.

Price Action: GameStop has traded as high as $483 and as low as $3.77 over a 52-week period.

At last check Wednesday, the stock was up 4.34% at $313.33.

Photo by Mike Mozart from Flickr.