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☆ 'Someone played this beautifully': Why one expert is suspicious of the latest meme-stock revival
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Deep out-of-the-money call options saw an explosion in trading volume just before the return of "Roaring Kitty." AdvertisementThe recent explosion in meme stocks like GameStop and AMC Entertainment looks suspicious, according to one market expert. Aside from the call options, GameStop stock has been gaining since late April, jumping about 60% from April 24 through March 10 despite no fundamental news on the company. "A suspicious person might wonder why 'Roaring Kitty' chose to return to social media today. The SEC filings in BBBY were boilerplate, and the social media post literally had no words.

Persons: Steve Sosnick, —, Sosnick, Kitty, Ryan Cohen, Cohen, it's Organizations: GameStop, Interactive, Service, AMC Entertainment, Interactive Brokers, Yahoo Finance, SEC Locations: Bath

☆ GameStop Names Ryan Cohen, Darling of Retail Traders, as CEO
▼ + stars: | 2023-09-28 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/c-suite/gamestop-names-ryan-cohen-as-chief-executive-b45770a9

Persons: Dow Jones, cohen, b45770a9

☆ GameStop names billionaire Ryan Cohen as CEO in turnaround push
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Traders work under signage for GameStop Corp. (NYSE: GME) on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 28 (Reuters) - GameStop (GME.N) on Thursday named billionaire Ryan Cohen as its CEO and chairman on Thursday, tightening the activist investor's grip on the ailing brick-and-mortar videogame retailer that he intends to turn around. Gamestop said he will relinquish that title and will not receive any compensation for his new roles. Cohen arrived at GameStop after building online pet products retailer Chewy into a powerhouse that he sold for $3.5 billion in 2017. The billionaire had initially tried to steer GameStop aggressively toward a more online-focused model as the chain, dependent on physical stores, looked to revive its business.

Persons: Andrew Kelly, Ryan Cohen, Cohen, Matt Furlong, Jenna Owens, Michael Recupero, Furlong, Aditya Soni, Arun Koyyur Organizations: GameStop Corp, New York Stock Exchange, REUTERS, GameStop, Gamestop, Bed, Nordstrom Locations: Manhattan , New York City, U.S, Bengaluru

☆ Stocks making the biggest moves premarket: Micron, CarMax, GameStop and more
▼ + stars: | 2023-09-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Micron — The chipmaker's shares fell 3.4% Thursday before the bell on the back of a weaker-than-expected earnings forecast. For the fiscal fourth quarter, the company posted a narrower-than-expected loss as well as revenue that topped expectations. CarMax — Shares fell nearly 12% as fiscal second-quarter earnings fell from a year ago on weakening demand for used cars. Peloton — Shares popped nearly 14% in premarket trading Thursday after Peloton and Lululemon announced a five-year strategic partnership on Wednesday. The company's fourth-quarter earnings forecast of $3.03 to $3.15 per share also fell below analysts' forecasts of $3.33 per share, according to FactSet.

Persons: Ryan Cohen, Matthew Furlong, CarMax, Lululemon, DigitalBridge, Concentrix, FactSet, —, Sarah Min, Pia Singh Organizations: Micron, LSEG, GameStop, UBS, JPMorgan

☆ GameStop jumps as it taps billionaire activist investor Ryan Cohen as CEO for zero salary
▼ + stars: | 2023-09-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Gamestop stock jumped as much as 7% Thursday after it announced Ryan Cohen as its new CEO. The billionaire investor will not receive any compensation for the role as president, chief executive, and chairman. Earlier this year, Gamestop fired CEO Matthew Furlong, a former Amazon executive. AdvertisementAdvertisementShares of Gamestop climbed as much as 7% Thursday after the company announced billionaire activist would take the helm as chief executive officer for zero salary. Cohen first took a stake in Gamestop in 2020, and joined its board in January 2021.

Persons: Ryan Cohen, Matthew Furlong, —, Cohen, Gamestop, Furlong Organizations: Gamestop, Amazon, Service

☆ GameStop's survival demands 'extreme frugality,' CEO Ryan Cohen tells employees
▼ + stars: | 2023-09-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Just hours after being named GameStop 's CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling video game retailer survives. I expect everyone to treat company money like their own and lead by example." Cohen, a billionaire activist investor and founder of direct-to-consumer pet food and supply retailer Chewy , was named the company's new leader Thursday morning. Cohen's CEO announcement previewed the company's emphasis on slashing costs: He will not receive a salary in his new role. I expect everyone to treat company money like their own and lead by example.

Persons: Ryan Cohen, " Cohen, Cohen, Matt Furlong, Mike Recupero, Furlong, Ryan, CNBC's Gabrielle Fonrouge Organizations: GameStop, CNBC, RC Ventures Locations: Grapevine , Texas

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. Investors' focus will be on the final gross domestic product (GDP) estimate for the second quarter and weekly jobless claims data - due at 8:30 a.m. ET, as well as remarks by voting members Chicago Fed President Austan Goolsbee and Board Governor Lisa Cook during the day. The scope for interest rates staying higher for longer than anticipated has solidified with soaring energy prices keeping headline inflation elevated. Meme darling GameStop (GME.N) jumped 7.2% after the company named billionaire activist investor Ryan Cohen as its CEO and chairman.

Persons: Brendan McDermid, Ryan Cohen, Jerome Powell's, Powell, Austan Goolsbee, Lisa Cook, Russ Mould, AJ Bell, GameStop, Ankika Biswas, Shashwat Chauhan, Maju Samuel, Sriraj Organizations: New York Stock Exchange, REUTERS, Micron, GameStop, Dow, Nasdaq, Federal, Treasury, Apple, Microsoft, Investors, Chicago Fed, Dow e, Traders, Micron Technology, Thomson Locations: New York City, U.S, Riding

☆ Billionaire Chewy cofounder Ryan Cohen takes over as GameStop CEO
▼ + stars: | 2023-09-28 | by ( Chris Johnston | ) www.businessinsider.com time to read: +2 min

Ryan Cohen was announced as the new CEO of GameStop on Thursday. AdvertisementAdvertisementGameStop has a CEO once again after Ryan Cohen, the billionaire founder of Chewy, was appointed Thursday. Cohen had been executive chairman since early June after CEO Matt Furlong was shown the door. Cohen, who's the largest investor in GameStop with a 12.1% stake, sold Chewy in 2017 for $3.3 billion. Cohen first took a stake in GameStop in 2020 and joined its board in January 2021 before becoming chairman that June.

Persons: Ryan Cohen, Chewy, —, Cohen, Matt Furlong, Furlong, Keith Gill, Kitty, Paul Dano, Gill, David Organizations: GameStop, Service, Amazon, Forbes, YouTube, Sony Pictures

GameStop said Thursday morning that billionaire activist investor Ryan Cohen would take over as the video game retailer's chief executive, chairman and president effective immediately — and he won't be collecting a salary. GameStop's board, with Cohen abstaining, unanimously voted to appoint the entrepreneur as the retailer's top executive on Wednesday. Cohen had previously held the title of executive chairman but will step down from the role upon his latest appointment, according to a securities filing. Cohen won't "receive any compensation" for his work, a news release said. The move comes more than three months after GameStop fired CEO Matthew Furlong, made Cohen executive chairman and appointed longtime company soldier Mark Robinson as its "principal executive officer" and general manager.

Persons: Ryan Cohen, Cohen, Matthew Furlong, Mark Robinson, Furlong, Diana Saadeh, Jajeh Organizations: GameStop

☆ The meme stock mania is now a movie. Here's what has happened to GameStop and AMC
▼ + stars: | 2023-09-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +6 min

There's Anthony Ramos' Marcus, a GameStop cashier, being lectured by his parents that this stock trading thing isn't real. Reddit versus Wall StreetMany social media traders discussed the meme stock moment in David vs Goliath terms — the retail traders versus the hedge funds. Several brokerages limited trading in meme stocks at the height of the meme stock mania. In the second quarter of 2019, before the meme stock mania began, the company generated about $1.3 billion in net sales. The AMC stock sales have diluted the holdings of individual shareholders, and the market cap of AMC is still down more than 50% from its peak.

Persons: Pete Davidson, Paul Dano's Keith Gill, Kitty, There's Anthony Ramos, Marcus, Jenny, hasn't, David, Gabe Plotkin, Seth Rogen, Capital, Robinhood, Chewy, Ryan Cohen, Matthew Furlong, shakeups, Adam Aron, Plotkin Organizations: Sony Pictures Entertainment, GameStop, YouTube, Ferrari, AMC Entertainment, AMC, SEC, Amazon, Wall Street titans, Charlotte Hornets

Are higher rates going to lead to some slow down in conjunction with the dwindling of excess consumer savings," said Lefkowitz, who also cited concerns about high valuations in equities. The Dow Jones Industrial Average (.DJI) rose 75.86 points, or 0.22%, to 34,576.59, the S&P 500 (.SPX) gained 6.35 points, or 0.14%, to 4,457.49 and the Nasdaq Composite (.IXIC) added 12.69 points, or 0.09%, to 13,761.53. For the week, which was shortened by Monday's Labor Day holiday, the S&P 500 fell 1.3%, while the Nasdaq lost 1.9% with both snapping two weeks of gains. After losing 2.9% in two sessions, the S&P 500 technology sector (.SPLRCT) closed higher. The S&P 500 posted 13 new 52-week highs and 17 new lows; the Nasdaq Composite recorded 36 new highs and 229 new lows.

Persons: David Lefkowitz, Lefkowitz, Brendan McDermid, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Ryan Cohen, Sinéad Carew, Chuck Mikolajczak, Gertrude Chavez, Dreyfuss, Shristi, Arun Koyyur, Vinay Dwivedi, David Gregorio Our Organizations: Gilead Sciences, Kroger, Dow, Nasdaq, Index, UBS Global Wealth Management, Dow Jones, Monday's Labor, Apple, New York Stock Exchange, REUTERS, Asset Management, York Fed, Dallas, BofA Securities, GameStop, U.S . Securities, Exchange Commission, NYSE, Thomson Locations: Beijing, New York City, U.S, New York, Bengaluru

☆ SEC Probes Ryan Cohen’s Bed Bath & Beyond Trades
▼ + stars: | 2023-09-08 | by ( Dave Michaels | Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/retail/sec-probes-ryan-cohens-bed-bath-beyond-trades-e9f35b81

Persons: Dow Jones

☆ Billionaire Ryan Cohen's 2022 purchase and abrupt sale of Bed Bath & Beyond shares are being investigated by the SEC, report says
▼ + stars: | 2023-09-08 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Meme-stock investor Ryan Cohen's 2022 trades in Bed Bath and Beyond's stock are being probed by the SEC, per the WSJ. The billionaire took a $120 million position in BBBY stock in early 2022, but sold it abruptly five months later. Cohen, who also chairs video game retailer and fellow meme stock GameStop, scored a profit of almost $60 million following the sale, the WSJ reported. "So meme stock investors conceivably understood Cohen's tweet to mean that Cohen was confident in Bed Bath and that he was encouraging them to act." In April 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy and closed hundreds of stores across the US.

Persons: Ryan Cohen's, Cohen, Ryan, Trevor McFadden, Cohen didn't Organizations: SEC, Service, Bed, Securities and Exchange Commission, Wall Street, GameStop, CNBC, Washington DC Locations: Bed Bath, BBBY, Wall, Silicon, Bath

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. The Consumer Price Index reading for August is due on Sept. 13, while the Federal Reserve's policy decision is scheduled for Sept. 20. New York Fed President John Williams kept his options open over future interest rate policy and Dallas Fed President Lorie Logan said while it "could be appropriate" to skip a rate hike in the upcoming meeting, more policy tightening might be needed. DocuSign (DOCU.O) added 3.1% as the e-Signature product provider beat second-quarter results estimates and raised its annual revenue forecast. GameStop (GME.N) fell 2.3% on a report that the U.S. Securities and Exchange Commission was investigating the videogame retailer's chairman, Ryan Cohen.

Persons: Brendan McDermid, Mark Haefele, Morgan Stanley, John Williams, Lorie Logan, Mary Daly, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Mizuho, Dow, Nasdaq, Federal, UBS Global Wealth Management, Traders, FedWatch, Apple, Wall, Dow e, . New York Fed, Dallas Fed, San Francisco Federal Reserve Bank, GameStop, U.S . Securities, Exchange Commission, Thomson Locations: New York City, U.S, Beijing, China, Bengaluru

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. U.S. Treasury yields edged lower on Friday, helping boost major growth stocks, with Microsoft (MSFT.O) leading gains, up 1.9%, and Meta Platforms (META.O) advancing nearly 1%. The S&P 500 information technology (.SPLRCT) sector rose 0.6% while energy stocks (.SPNY) rose 1.3% to their highest level in over seven months, tracking an uptick in crude prices. Advancing issues outnumbered decliners by a 1.64-to-1 ratio on the NYSE and by a 1.01-to-1 ratio on the Nasdaq. The S&P 500 recorded 13 new 52-week highs and 14 new lows, while the Nasdaq posted 31 new highs and 160 new lows.

Persons: Brendan McDermid, Morgan Stanley, Phil Blancato, Ladenburg, John Williams, Lorie Logan, Ryan Cohen, Shristi Achar, Arun Koyyur, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Gilead Sciences, Kroger, Dow, Nasdaq, Apple, Microsoft, Treasury, Wall, Federal Reserve, Index, Federal, Asset Management, FedWatch, New York Fed, Dallas, Dow Jones, BofA Securities, GameStop, U.S . Securities, Exchange Commission, NYSE, Thomson Locations: New York City, U.S, Beijing, Bengaluru

☆ GameStop’s success doesn’t belong in a meme
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Sept 7 (Reuters Breakingviews) - Meme-stock success might look more whimper than bang. GameStop (GME.N), the poster-child for pandemic-era retail-trader enthusiasm, reported second-quarter results on Wednesday that showed losses narrowing and positive, if miniscule, adjusted EBITDA. It’s an improvement on the path to sustainability, especially compared to other retail darlings like bankrupt Bed Bath & Beyond. Hardware sales fell 18% from the prior quarter, as the after-effects of supply shortages fade. GameStop’s share price may still be well above 2019 levels, but its ambitions are as low as ever.

Persons: hasn’t, Ryan Cohen, Jonathan Guilford, Hong Kong, Lauren Silva Laughlin, Sharon Lam Organizations: Reuters, GameStop, X, Hong, Thomson Locations: Grapevine , Texas

☆ SEC probing Ryan Cohen's ownership, sale of Bed Bath & Beyond shares - WSJ
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

Shoppers leave a Bed Bath & Beyond store, after the company declared bankruptcy, in Danvers, Massachusetts, U.S., April 24, 2023. REUTERS/Brian Snyder/File Photo Acquire Licensing RightsSept 7 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is investigating billionaire Ryan Cohen's ownership and surprise sale of Bed Bath & Beyond shares, the Wall Street Journal reported on Thursday. Bed Bath & Beyond and the SEC did not immediately respond to Reuters' requests for comment. Cohen could not be immediately reached for comment. In April, Bed Bath & Beyond filed for Chapter 11 bankruptcy.

Persons: Brian Snyder, Ryan Cohen's, Cohen, Granth, Sriraj Organizations: Shoppers, REUTERS, U.S . Securities, Exchange Commission, Bed, Wall Street, SEC, GameStop, Thomson Locations: Danvers , Massachusetts, U.S, Bed Bath, Bengaluru

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

☆ Bed Bath & Beyond shareholders left holding 'worthless stock' as bankruptcy hearing approaches
▼ + stars: | 2023-08-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Jakub Porzycki | Nurphoto | Getty ImagesBed Bath & Beyond shares continue to trade at enormous volumes even as the wildly popular meme stock appears weeks away from being declared worthless. It also plans to adopt the company's stock ticker and change the current OSTK with BBBY in the hope of capitalizing on the long-standing household name. In its SEC filing in April, the company cautioned that trading in its stock during the ongoing Chapter 11 cases was "highly speculative and poses substantial risks." The company's planned confirmation hearing will take place on Sep. 12, but there have been no positive catalysts to the recent purchases of the company's shares. This would suggest that the current vast swathes of investors trading in the company's stock may be doing so purely on doomed speculation, and will be left empty handed.

Persons: Jakub Porzycki, Ryan Cohen Organizations: Nurphoto, Nasdaq, Overstock, BBBY, SEC, GameStop Locations: Williston , Vermont

☆ Meme-stock hero Ryan Cohen faces Bed Bath & Beyond shareholder lawsuit over emoji-fueled rally
▼ + stars: | 2023-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Meme stock investor Ryan Cohen will have to face a lawsuit from Bed Bath & Beyond shareholders. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Shareholders filed a suit against Cohen after the Gamestop executive chairman sold his shares of Bed Bath & Beyond during a rally for the meme stock last year, bagging a $68 million profit before the stock price tanked again. "So meme stock investors conceivably understood Cohen's tweet to mean that Cohen was confident in Bed Bath and that he was encouraging them to act." Bed Bath & Beyond shares traded at $0.29 on Monday, down 99% from their record price of $80.48 a share.

Persons: Ryan Cohen, Cohen, Trevor McFadden, emojis, McFadden Organizations: Bed, Investors, Service, Gamestop, CNBC, Washington DC, Securities, Exchange, Wall Street Locations: Wall, Silicon, Bath

☆ GameStop CFO to quit in second top executive exit in two months
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: 1 min

July 27 (Reuters) - GameStop (GME.N) said its finance chief Diana Saadeh-Jajeh will resign on Aug. 11, marking the second high-profile exit in two months and sending the shares of the videogame retailer down nearly 2% in extended trading. The company's board had in June ousted its fifth CEO in five years, leading some analysts to question whether billionaire investor Ryan Cohen, who is now executive chairman, can turn around GameStop. The retailer, known for its brick-and-mortar stores, has struggled to deliver on Cohen's vision to make the company a leading e-commerce firm for videogames and related merchandise. The company's shares have dropped about 82% from the $120.75 peak they hit during the meme-stock saga of 2021. Reporting by Akash Sriram in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Diana Saadeh, Jajeh, Ryan Cohen, Akash Sriram, Arun Koyyur Organizations: GameStop, Thomson Locations: Bengaluru

☆ CNBC Special Podcast: Making of the Meme King
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

When Ryan Cohen tweets, people react. His posts fuel frenzies among his fervent followers, sending retail investors on Twitter and Reddit searching for hidden messages and clues. He's also earned the titles of "Papa Cohen" and "Meme-Stock King" after word of his investments in both GameStop and Bed Bath & Beyond helped send those stock prices soaring. Cohen—a Canadian high school graduate turned entrepreneur and billionaire— co-founded the successful online pet supply company, Chewy, before becoming a new type of activist investor harnessing the power of technology and social media. CNBC Documentaries' Making of the Meme King delves into the mysteries surrounding Cohen—including questions about his rapid exit from Bed Bath & Beyond-- and explores how he might be changing the landscape of business and investing.

Persons: Ryan Cohen, He's, Papa Cohen, Cohen —, —, Cohen Organizations: Twitter, GameStop, CNBC

☆ Buybuy Baby stores to close amid Bed Bath & Beyond's ongoing bankruptcy liquidation
▼ + stars: | 2023-07-12 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Buybuy Baby will close all of its stores as part of its parent company Bed Bath & Beyond’s ongoing bankruptcy liquidation. The deal did not include the chain’s 120 physical retail stores. Bed Bath & Beyond’s brand name, domain and loyalty program assets were purchased by Overstock.com for $21 million last month after filing for bankruptcy in April. The acquisition also did not include Bed Bath & Beyond’s brick-and-mortar stores, which have closed. In a March 2022 letter, former Bed Bath & Beyond activist investor Ryan Cohen said he believed Buybuy Baby was “much more valuable than the Company’s entire market capitalization today.”

Persons: Janie, Jack, Ryan Cohen, ” Organizations: CNN, Bed, CNBC, Sixth Street Partners, Go, Overstock.com, Beyond, & $ Locations: New Jersey, Bath

☆ Ryan Cohen scoops up GameStop stock worth $10 mln, shares rise
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +1 min

June 13 (Reuters) - Ryan Cohen has bought GameStop (GME.N) stock worth $10 million, a securities filing showed on Tuesday, in a sign that the activist investor was trying to boost shareholder morale after the company lost its fifth CEO in five years last week. Shares of the company jumped 7.7% in early trading. They are down nearly 80% from their peak of $120.75 hit during the meme-stock frenzy of 2021. Cohen promised investors a digital pivot, with a focus on e-commerce, but the company has struggled to realize the goal. Reporting by Chavi Mehta in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Ryan Cohen, Matt Furlong, Cohen, Chavi Mehta, Anil D'Silva Organizations: GameStop, RC Ventures, Thomson Locations: Bengaluru

☆ GameStop Stock Tumbles After CEO Is Fired
▼ + stars: | 2023-06-08 | by ( ) www.wsj.com time to read: 1 min

GameStop shares are plummeting in morning trading, following Wednesday’s news that it fired its chief executive officer and elevated Ryan Cohen to executive chairman. Shares are down 18% at $21.49, putting the stock on track for its biggest daily fall since 2021, when GameStop became a meme stock. That year, GameStop shares regularly swung sharply. Lately, the stock’s daily moves have been much more subdued.

Persons: Ryan Cohen Organizations: GameStop

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