GameStop becomes an authorized dealer of sports and hobby trading cards

GameStop Corp. (NYSE:GME) traded higher on Tuesday after announcing a major partnership to grade trading cards. The retailer said it will become an authorized PSA dealer, and PSA will provide authentication and grading services for trading cards through select GameStop (GME) stores across the United States.

As part of its trading card program, GameStop (GME) said customers can drop off ungraded trading cards at a participating GameStop (GME) location. All cards must be submitted in penny sleeves and card savers. Customers can then follow their cards through the PSA process, where they are authenticated, graded, and encapsulated. Customers will then get an email letting them know they are ready to be picked up. At the end of the process, customers can keep the newly graded cards, sell them, or trade them in.

Shares of GameStop (GME) were up 1.02% in Tuesday morning trading.