---
title: "Is GameStop Stock Halal?"
canonical: https://www.halalwallet.ca/is-it-halal/gamestop-stock
publisher: HalalWallet
license: CC BY 4.0
verdict: not_halal
verdict_label: Not Halal
entity_type: stock
ticker: GME
exchange: NYSE
last_reviewed: 2026-06-14
data_as_of: 2026-05-02
standards_disagree: false
authorities_with_position: 3
authority_agreement: unanimous
---
# Is GameStop Stock Halal?

**Authority consensus:** All 3 halal screening authorities with a published position rate GameStop Corp. not halal.

**Verdict: Not Halal** (Not permissible)

GameStop Corp. (GME) does not pass Shariah screening: interest-bearing debt / market cap is 42.7% against the < 30% limit (data as of 2026-05-02), and cash + interest-bearing securities / market cap is 85.7% against the < 30% limit (data as of 2026-05-02), and impermissible income / total revenue is 7.5% against the < 5% limit (data as of 2026-05-02). Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below.

> HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide.

## How we read the evidence

GameStop is an unusual 'is it halal?' case because the problem is not what the company does — it is how the company is capitalized. GameStop's actual business, selling video games, hardware, collectibles, and electronics through stores and online, is permissible retail and clears the business-activity screen without issue.

Where it fails is the financial-ratio screens, and the cause is its post-2021 balance sheet. During the meme-stock era GameStop raised billions of dollars by issuing new shares and now sits on an enormous pile of cash and marketable securities relative to the size of its operating business. On our screen, cash plus interest-bearing securities is about 86% of market capitalization — nearly three times the 30% AAOIFI limit — its debt ratio is also above the limit, and the interest income earned on that cash hoard runs around 7.5% of revenue, above the 5% threshold. Any one of these would flag the stock; together they make it clearly non-compliant.

This is why Zoya, Musaffa, and Amal Invest all classify GameStop as not Shariah-compliant. It is a useful reminder that a permissible business can still fail screening on its financials — in GameStop's case, because so much of its market value is now interest-bearing cash rather than the retail operation itself. Muslim investors looking for retail or consumer exposure should use a screener to find names that pass on both the business and the financial tests.

## Business activity screen

Result: Pass

GameStop Corp. is a specialty retailer of video games, gaming hardware, collectibles, and consumer electronics, operating physical stores and e-commerce in the US and internationally. Retailing games and electronics is itself a permissible business activity.

GameStop's retail business activity is permissible — the stock fails on the financial-ratio screens, not the business screen. After raising several billion dollars through equity issuance, GameStop holds a very large cash and marketable-securities position: cash plus interest-bearing securities is roughly 86% of market capitalization, far above the 30% AAOIFI limit. Its debt-to-market-cap ratio is also above the 30% limit, and interest income earned on the large cash pile is around 7.5% of revenue, above the 5% limit. The combination of these breaches is why screeners classify it as non-compliant.

## Financial ratio screen (AAOIFI)

Data as of: 2026-05-02

| Screen | Value | Limit | Result |
|---|---|---|---|
| Interest-bearing debt / market cap | 42.7% | < 30% | Fail |
| Cash + interest-bearing securities / market cap | 85.7% | < 30% | Fail |
| Impermissible income / total revenue | 7.5% | < 5% | Fail |

Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology

## How it screens across Shariah standards

All three mainstream bases below reach the same conclusion for this company.

| Standard | Debt | Cash & interest securities | Limit / basis | Result |
|---|---|---|---|---|
| AAOIFI (our standard) | 42.7% | 85.7% | < 30% of market cap | Fail |
| Dow Jones Islamic / S&P Shariah threshold | 42.7% | 85.7% | < 33% of market cap | Fail |
| MSCI Islamic / FTSE Yasaar basis | 38.0% | 76.3% | < 33.33% of total assets | Fail |

HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-05-02) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded); the < 5% impermissible-income screen is common to all and shown above. Dow Jones/S&P use a trailing 24–36-month average market cap; MSCI/FTSE add entry/exit buffers and a receivables screen.

## Scholars' and screeners' positions

- **Zoya**: Classifies GME as NOT Shariah-compliant under its AAOIFI-based methodology; dividends from a non-compliant stock are treated as impermissible income to be purified. ([source](https://zoya.finance/stocks/gme))
- **Musaffa**: Classified NOT HALAL as of December 2025 based on AAOIFI business-activity and financial-ratio screens (report source: 2025 Q3). ([source](https://musaffa.com/stock/GME))
- **Amal Invest**: Rates GME Haram (not Shariah-compliant) as of April 2026 under AAOIFI screening — fails the financial-ratio screen due to debt and interest income. ([source](https://amalinvest.com/halal-investing/stock/gme))

## Sources

- GME latest quarterly filing (balance sheet 2026-05-02) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=GameStop%20Corp.&type=10-Q)
- AAOIFI Shariah Standards (https://aaoifi.com)
- GameStop Corp. 10-K filings (SEC EDGAR) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=GME&type=10-K)
- Zoya — GME Shariah compliance status (not compliant) (https://zoya.finance/stocks/gme)
- Musaffa — GME Shariah status (NOT HALAL, Dec 2025) (https://musaffa.com/stock/GME)
- Amal Invest — GME Shariah screening (Haram, Apr 2026) (https://amalinvest.com/halal-investing/stock/gme)

## Frequently asked questions

### Is GameStop Corp. (GME) stock halal?

No. GameStop Corp. fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons.

### Does GameStop Corp. pass the AAOIFI financial ratio screen?

As of 2026-05-02: interest-bearing debt is 42.7% of market cap (limit < 30%); cash plus interest-bearing securities is 85.7% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

### Is GameStop Corp. held in halal ETFs like SPUS or HLAL?

Check the scholar/screener positions and sources on this page for current SPUS, HLAL, Zoya, and Musaffa statuses.

## Related verdicts

- [Is Palantir Technologies Stock Halal?](https://www.halalwallet.ca/is-it-halal/palantir-technologies-stock.md) — Not Halal
- [Is Super Micro Computer Stock Halal?](https://www.halalwallet.ca/is-it-halal/super-micro-computer-stock.md) — Not Halal
- [Is Affirm Stock Halal?](https://www.halalwallet.ca/is-it-halal/affirm-holdings-stock.md) — Not Halal
- [Is Airbnb Stock Halal?](https://www.halalwallet.ca/is-it-halal/airbnb-stock.md) — Not Halal
- [Is Alibaba Stock Halal?](https://www.halalwallet.ca/is-it-halal/alibaba-group-holding-limited-stock.md) — Not Halal
- [Is Altria Stock Halal?](https://www.halalwallet.ca/is-it-halal/altria-group-stock.md) — Not Halal

---

Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30).

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