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☆ If you're looking for a last-minute trip to Cape Cod during the 'busy' season, you might be in luck. Summer rentals are sitting empty.
▼ + stars: | 2023-06-19 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

It's not too late to book a short-term vacation rental on Cape Cod this summer. Even as the vacation hot spot enters its busy season, locals are seeing the demand for vacation rentals soften. The occupancy rate is down 20% from last year, according to The Cape Cod & Islands Association of Realtors. After listing those homes on sites like Airbnb and Vrbo, the supply of vacation rentals is through the roof. The real estate group says the average daily rate has climbed to $619 up from $525 last summer.

Persons: It's, —, Airbnb, Insider's, Vrbo, Beth Teitell, Ryan Castle, John Greim, Annie Blatz Organizations: Service, Islands Association of Realtors, Boston Globe, Globe, Getty, Kinlin Grover Compass Locations: Cod, Cape Cod

☆ A.I. could ‘remove all human touchpoints’ in supply chains. Here’s what that means
▼ + stars: | 2023-06-19 | by ( Lucy Handley | ) www.cnbc.com time to read: +7 min

Ryan Collerd | Bloomberg | Getty ImagesArtificial intelligence is likely to shake up the transportation industry — transforming how supply chains are managed and reducing the number of jobs carried out by people, according to analysts and industry insiders. Sidewalk robots, self-driving trucks and customer service bots are on their way, along with generative AI that can predict disruptions or explain why sales forecasts may have been missed, according to industry executives. "AI may be able to totally (or nearly) remove all human touchpoints in the supply chain including 'back office' tasks," Morgan Stanley 's analysts led by Ravi Shanker stated in a research note last month. AI is the latest one of these potentially transformative technologies to emerge – and perhaps the most powerful to-date," the analysts added. This is a theme picked up by analysts at investment firm Jefferies, who made multiple predictions about the effect that generative AI will have on transportation and logistics.

Persons: Morgan Stanley, Ryan Collerd, Ravi Shanker, Morgan, Jefferies, Stephanie Moore, Navneet Kapoor, Kapoor, Maersk, Igor Rikalo Organizations: Hershey Co, Bloomberg, Getty, EV, Trucking, Logistics, CNBC, Maersk, o9 Solutions Maersk Locations: U.S, Russia, Ukraine

☆ 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

☆ With Hollywood Change Stagnating, a Call to ‘Burn It Down’
▼ + stars: | 2023-06-11 | by ( Alexandra Jacobs | ) www.nytimes.com time to read: +2 min

BURN IT DOWN: Power, Complicity, and a Call for Change in Hollywood, by Maureen RyanAs I typed this, striking Writers Guild of America members were skipping the picket lines in New York City because of poor air quality, after smoke drifted down from wildfires in Canada. It was a grimly perfect backdrop to read “Burn It Down,” a new book about the pervasive moral shortcomings of Hollywood by the longtime entertainment reporter and critic Maureen Ryan. For the industry Ryan covers is suffering its own kind of climate crisis. Television seasons are shorter — that’s if it’s even relevant to call a collection of episodes that can be binged anytime a “season” anymore. official and private investigator.”Ryan also alludes briefly here, as she has in Variety, to having been the victim of sexual assault by an unnamed television executive.

Persons: Maureen Ryan, Ryan, Don, George Floyd, gingerly, ”, H.R, ” Ryan, Howard Beale Organizations: Guild of America, Television, The New York Times, The Chicago Tribune, Variety Locations: Hollywood, New York City, Canada

☆ Tony Awards 2023: Highlights and winners
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

[1/25] The cast of "Sweeney Todd: The Demon Barber of Fleet Street" perform onstage at the 76th Annual Tony Awards in New York City, U.S., June 11, 2023. REUTERS/Brendan Mcdermid - HP1EJ6C05QLC2See pictures and a running list of winners at the 76th Tony Awards, the highest honors in American theater. BEST MUSICALKimberly AkimboBEST PLAYLeopoldstadtBEST PERFORMANCE BY AN ACTRESS IN A LEADING ROLE IN A PLAYPrima Facie: Jodie ComerBEST PERFORMANCE BY AN ACTOR IN A LEADING ROLE IN A PLAYGood Night, Oscar: Sean HayesBEST PERFORMANCE BY AN ACTRESS IN A LEADING ROLE IN A MUSICALKimberly Akimbo: Victoria ClarkBEST PERFORMANCE BY AN ACTOR IN A LEADING ROLE IN A MUSICALSome Like it Hot: J. Harrison GheeBEST PERFORMANCE BY AN ACTRESS IN A FEATURED ROLE IN A MUSICALKimberly Akimbo: Bonnie MilliganBEST PERFORMANCE BY AN ACTOR IN A FEATURED ROLE IN A MUSICALShucked: Alex NewellBEST PERFORMANCE BY AN ACTRESS IN A FEATURED ROLE IN A PLAYThe Sign in Sidney Brustein's Window: Miriam SilvermanBEST PERFORMANCE BY AN ACTOR IN A FEATURED ROLE IN A PLAYLeopoldstadt: Brandon UranowitzBEST BOOK OF A MUSICALKimberly Akimbo: David Lindsay-AbaireBEST REVIVAL OF A MUSICALParadeBEST REVIVAL OF A PLAYSuzan-Lori Parks' Topdog/UnderdogBEST DIRECTION OF A MUSICALParade: Michael ArdenBEST DIRECTION OF A PLAYLeopoldstadt: Patrick MarberBEST CHOREOGRAPHYSome Like it Hot: Casey NicholawBEST ORIGINAL SCOREKimberly Akimbo: Jeanine Tesori for music and David Lindsay-Abaire for lyrics. BEST COSTUME DESIGN OF A PLAYLeopoldstadt: Brigitte ReiffenstuelBEST COSTUME DESIGN OF A MUSICALSome Like it Hot: Gregg BarnesBEST ORCHESTRATIONSSome Like it Hot: Charlie Rosen and Bryan CarterSee picotures and a running list of winners at the 76th Tony Awards, the highest honors in American theater.cNew York, New York: Beowulf BorittBEST SCENIC DESIGN OF A PLAYLife of Pi: Tim Hatley and Andrzej GouldingBEST LIGHTING DESIGN OF A MUSICALSweeney Todd: Natasha KatzBEST LIGHTING DESIGN OF A PLAYLife of Pi: Tim LutkinBEST SOUND DESIGN OF A PLAYLife of Pi: Carolyn DowningBEST SOUND DESIGN OF A MUSICALSweeney Todd: Nevin SteinbergOur Standards: The Thomson Reuters Trust Principles.

Persons: Sweeney Todd, Barber, Tony, Brendan Mcdermid, Tony Awards, Kimberly Akimbo, Jodie Comer, Sean Hayes, Victoria Clark, Bonnie Milligan, Alex Newell, Miriam Silverman, Brandon, David Lindsay, Lori Parks, Michael Arden, Patrick Marber, Casey Nicholaw, SCORE Kimberly Akimbo, Jeanine Tesori, Abaire, Brigitte Reiffenstuel, Gregg Barnes, Charlie Rosen, Bryan Carter, Tim Hatley, Andrzej Goulding, Natasha Katz, Tim Lutkin, Pi, Carolyn Downing, Nevin Steinberg Organizations: REUTERS, Prima, Victoria Clark BEST, Michael Arden BEST, SCORE, theater.c, Thomson Locations: New York City, U.S, York , New York

☆ ChatGPT can only tell 25 jokes, and can't come up with new ones, researchers find
▼ + stars: | 2023-06-10 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

ChatGPT is "fun, but not funny" and keeps telling users the same 25 jokes, according to researchers. In a paper published on arXiv, most of the 1,008 jokes ChatGPT told were variations of just 25. By asking the chatbot "do you know any good jokes?," the researchers got ChatGPT to generate 1,008 jokes. However, more than 90% were the same 25 jokes, the researchers found, with the remainder being variations. Insider asked ChatGPT to tell us 25 jokes to get an idea of what the researchers meant.

Persons: ChatGPT, haven't, Sophie Jentzsch, Kristian Kersting, Bryan Caplan Organizations: Morning, Cornell University

☆ 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

☆ Stocks making the biggest premarket moves: GameStop, Wynn Resorts, Lucid, Adobe & more
▼ + stars: | 2023-06-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:GameStop — Shares plummeted nearly 21% in premarket trading. Wynn Resorts , Las Vegas Sands — The casino operators both shed about 2% following a downgrade by Jeffries to hold from buy. Signet Jewelers — Shares tumbled nearly 11% after the jeweler provided second-quarter revenue and operating-income guidance that fell short of expectations. T-Mobile — Shares of the wireless provider added about 1% in premarket trading after Wolfe Research upgraded T-Mobile to outperform from peer perform. HashiCorp - The stock sank more than 22%, a day after the company reported a first-quarter earnings miss and revenue beat.

Persons: Matthew Furlong, Ryan Cohen, Jeffries, Zhu Jiang, Wolfe, HashiCorp, Jesse Pound, Sarah Min, Brian Evans Organizations: GameStop, Wynn Resorts, Sands, Signet, Reuters, Mobile, Wolfe Research, Adobe, Adobe Express Locations: New York, Las, China

☆ Morning Bid: O Canada! Markets wary of Fed hawkish surprise
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Ankur BanerjeeAnother day, another surprise hike. Broader consensus is that the Fed will do at least one more hike. The CME FedWatch tool showed the probability of the Fed hiking by 25 bps next week is 36%, it was 22% a day earlier. With a light data calendar and futures pointing to a mixed open in Europe, markets could drift on Thursday. Economists expect the Federal Reserve to pause on its tightening cycle on its June 13-14 meeting as price pressures soften and as its key rate rises above inflation for the first time since mid-2020.

Persons: Ankur Banerjee, Ryan Cohen, Coinbase, Brian Armstrong, Gary Gensler, Christopher Cushing Organizations: Ankur, Reserve Bank, Bank of, U.S . Federal Reserve, Reuters, U.S, GameStop, U.S . Securities, Exchange, Federal Reserve, Reuters Graphics Reuters, Thomson Locations: Asia, Japan, Europe, Singapore

☆ Futures muted as bond yields rise on rate jitters
▼ + stars: | 2023-06-08 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures up: Dow 0.01%, S&P 0.06%, Nasdaq 0.09%June 8 (Reuters) - U.S. stock index futures were largely flat on Thursday as government bond yields hovered near recent highs on worries that major central banks could keep raising interest rates. The benchmark S&P 500 (.SPX) and the tech-heavy Nasdaq (.IXIC) closed lower on Wednesday, with megacap stocks leading declines as U.S. bond yields rose after the Bank of Canada (BoC) surprised markets with an interest rate hike. The 2-year Treasury yield , which tends to move in step with short-term rate expectations, rose for a third day to 4.56%, as investors await the Federal Reserve meet next week. Eventually we don't think the Fed will hike in July," Jefferies strategist Mohit Kumar said. They see a 50% chance of a rate hike in July.

Persons: Jefferies, Mohit Kumar, Russell, Thierry Breton, Ryan Cohen, Zhu Jiang, Sruthi Shankar, Vinay Dwivedi Organizations: Dow, Nasdaq, Bank of Canada, BoC, Microsoft Corp, Apple Inc, Amazon.com Inc, Treasury, Reserve, Traders, U.S . Labor Department, Dow e, Meta, Inc, GameStop Corp, Thomson Locations: U.S, KBW, China, Bengaluru

June 8 (Reuters) - GameStop (GME.N) sank nearly 20% on Thursday and was set for its worst session in two years after the surprise exit of a CEO handpicked to lead its online expansion fanned concerns about the videogame retailer's ailing business. The ousting of former Amazon.com executive Matt Furlong came alongside top shareholder Ryan Cohen's appointment as the executive chairman of a company that he turned into a favorite of meme-stock traders with promises of a digital pivot. Over the last 5 years, GameStop has had 5 CEOs and 3 CFOs." The company's shares have dropped nearly 80% from the $120.75 peak they hit during that meme-stock saga of 2021. "The lack of a clear direction and the callous termination of Furlong all but ensures Cohen will have difficulty attracting a qualified replacement."

Persons: Matt Furlong, Ryan Cohen's, Andrew Uerkwitz, Jefferies, Michael Pachter, Furlong, Cohen, Akash Sriram, Devika Organizations: GameStop, Wedbush Securities, Thomson Locations: Bengaluru

☆ GameStop fires CEO and names Ryan Cohen as executive chairman
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGameStop fires CEO and names Ryan Cohen as executive chairmanCNBC's Melissa Lee and Steve Kovach join 'Power Lunch' to discuss Ryan Cohen stepping in as Gamestop's executive chairman.

Persons: Ryan Cohen, CNBC's Melissa Lee, Steve Kovach Organizations: GameStop

Traders have priced in a 73% chance of the U.S. central bank holding interest rates at the current 5%-5.25% range during its monetary policy meeting on June 13-14, according to CMEGroup's Fedwatch tool. "Today's data in terms of higher claims shows that the Fed policy is having a clear effect," said David Russell, vice president of Market Intelligence at TradeStation. The CBOE Volatility index (.VIX), also known as Wall Street's fear gauge, dropped to a fresh pre-pandemic low of 13.73. The U.S. Labor Department is due to release inflation data on June 13, the first day of the Fed meeting. The S&P index recorded six new 52-week highs and two new lows, while the Nasdaq recorded 38 new highs and 29 new lows.

Persons: David Russell, Wells, Ryan Cohen, Piper Sandler, Zhu Jiang, Sruthi Shankar, Shristi, Vinay Dwivedi Organizations: GameStop, Dow, Nasdaq, Treasury, Traders, Market Intelligence, Fed, Nvidia Corp, Apple Inc, Tesla Inc, GameStop Corp, U.S . Labor Department, Bank of Canada, BoC, Dow Jones, Adobe, Lucid, NYSE, Thomson Locations: Wells, U.S, Wells Fargo, China, Bengaluru

☆ CNBC Daily Open: Winds of change are blowing, but the haze remains
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Chris Licht relinquished his position as CNN's CEO and left the company, Warner Bros Discovery, the parent company of CNN, said Wednesday morning. So it was perhaps not surprising that investors were relieved by his departure, as indicated by the 8.43% jump in Warner Bros ' shares. Cohen is known as "the god figure of the meme-stock community," a Reddit user, who preferred to be anonymous for fear of retaliation, told CNBC.

Persons: Chris Licht, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's Organizations: Penn, Empire, CNBC, Warner Bros Discovery, CNN, Warner Bros, GameStop Locations: New York City, New York

☆ CNBC Daily Open: How quickly prospects change
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Mazur | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury Secretary Janet Yellen told CNBC she wouldn't be surprised if more banks start to consolidate, given the increased pressures on the banking system. The bottom lineProspects — for both firms and markets — changed as quickly and suddenly as the haze engulfed New York. Smaller companies are more sensitive to economic conditions because they tend not to have the financial heft to defy a downturn.

Persons: Chris Licht, Kevin Mazur, Janet Yellen, wouldn't, Yellen, Elon Musk, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's, Russell, That's, LPL, Quincy Krosby Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Getty, CNBC, Dow Jones, Treasury, Millionaires, CNBC Millionaire Survey, Warner Bros Discovery, CNN, GameStop, Big Tech, Microsoft, Google, Nvidia, Qualcomm, Nasdaq Locations: New York City, U.S, Mongolia, New York

☆ GameStop plunges 22% after company fires its CEO and names meme-stock activist Ryan Cohen as executive chairman
▼ + stars: | 2023-06-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

GameStop plunged 22% on Thursday after the video game retailer fired its CEO and reported a quarterly revenue decline. The company said its largest investor, Ryan Cohen, would be named executive chairman. In addition to the firing, the company said Ryan Cohen would be named executive chairman of the company. Shortly after Wednesday's announcement that Cohen had been named executive chairman of GameStop, Cohen tweeted: "Not for long." In addition to the executive shakeup, GameStop announced its fiscal first-quarter revenue of $1.237 billion, which represented a year-over-year decline of 10%.

Persons: Ryan Cohen, —, Matthew Furlong, Cohen, Michael Pachter, Furlong, Pachter Organizations: GameStop, Amazon, Service

☆ Stocks making the biggest moves midday: GameStop, Amazon, Carvana and more
▼ + stars: | 2023-06-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

GameStop — The meme stock tumbled nearly 18% after the company fired CEO Matthew Furlong and appointed Ryan Cohen as executive chairman, effective immediately. Carvana — Shares popped 56% after the online car seller issued an upbeat outlook for the second quarter. Carvana said it now expects non-GAAP total gross profit per unit to come in above $6,000 in the second quarter. Smartsheet — Smartsheet tanked more than 17.5% after the software company said billings came in at $215.5 million, falling short of a StreetAccount estimate of $217.1 million. Trip.com posted earnings per share of 43 cents, beating a StreetAccount estimate of 26 cents.

Persons: Matthew Furlong, Ryan Cohen, Wells, Carvana, Wolfe, Fisker, Rod Lache, Chris Licht, Jefferies, billings, Lilly Pulitzer, Tommy Bahama, Trip.com, Yun Li, Alex Harring, Sarah Min, Michelle Fox, Tanaya Macheel Organizations: GameStop, Signet, Signet Jewelers, Wolfe Research, Warner Bros, CNN, Wynn Resorts, Sands, Mobile, Adobe —, Adobe, Oxford Industries Locations: Wells Fargo, Las, Macao

☆ GameStop terminates Matt Furlong as CEO
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

June 7 (Reuters) - GameStop (GME.N) said on Wednesday Matt Furlong has been terminated as CEO and the board has appointed billionaire Ryan Cohen as Executive Chairman, effective immediately. Shares of the company fell over 5% in extended trading. Billionaire investor Cohen, who co-founded online pet products retailer Chewy, has been serving as chairman of GameStop and is also a majority shareholder of the Texas-based company. Reporting by Samrhitha Arunasalam; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Matt Furlong, Ryan Cohen, Cohen, Samrhitha Arunasalam, Krishna Chandra Organizations: GameStop, Billionaire, Thomson Locations: Texas

☆ GameStop Shares Fall as It Terminates CEO and Ryan Cohen Becomes Executive Chairman
▼ + stars: | 2023-06-07 | by ( Sarah E. Needleman | ) 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/articles/gamestop-fires-ceo-names-investor-ryan-cohen-executive-chairman-39782eac

Persons: Dow Jones, cohen, 39782eac Organizations: gamestop

☆ GameStop fires CEO, names Ryan Cohen executive chairman
▼ + stars: | 2023-06-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

GameStop fired its CEO Matthew Furlong and appointed its board chairman Ryan Cohen as executive chairman effective immediately, the company announced Wednesday. It said Cohen will be in charge of capital allocation and overseeing management. The decision to part ways with Furlong comes just months after GameStop reported its first quarterly profit in two years while he was at the helm. Shares of GameStop dropped more than 17% in extended trading after news of the termination was released. In GameStop's fiscal first quarter that ended April 29, GameStop reported revenue of $1.24 billion, down from $1.38 billion in the year ago period.

Persons: Matthew Furlong, Ryan Cohen, Cohen, Furlong Organizations: GameStop

☆ Stock futures are little changed on Wednesday night as rally hesitates: Live updates
▼ + stars: | 2023-06-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +1 min

Stock futures were flat on Wednesday evening, as investors await the next market catalyst. Futures linked to the S&P 500 ticked lower by 0.04%, while Nasdaq 100 futures inched down by 0.09%. Futures tied to the Dow Jones Industrial Average dropped 17 points or 0.05%. During the regular session Wednesday, the S&P 500 and the Nasdaq Composite appeared to take a breather from their recent rally. "It's widely expected they will pause, but it's really going to be important what their guidance is and what the [consumer price index] number on Tuesday will be and the [producer price index]."

Persons: Matthew Furlong, Ryan Cohen, Dow, Barbara Doran, it's, Jeff Cox Organizations: Nasdaq, Dow Jones, GameStop, Fed, BD8 Capital Partners, Federal

☆ Ryan Cohen 'doesn't have the first clue' how to turn GameStop around, says Wedbush's Michael Pachter
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRyan Cohen 'doesn't have the first clue' how to turn GameStop around, says Wedbush's Michael PachterMichael Pachter, Wedbush Securities, joins 'Closing Bell Overtime' to breakdown what GameStop's leadership shake up means for the future of the company.

Persons: Ryan Cohen, doesn't, Wedbush's Michael Pachter Michael Pachter Organizations: GameStop, Wedbush Securities Locations: Wedbush

☆ Gamestop fires CEO as Q1 earnings released
▼ + stars: | 2023-06-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —GameStop fired its CEO, Matt Furlong, and elevated Ryan Cohen to executive chairman, the company announced on Wednesday. GameStop (GME) also reported a net loss of $50.5 million, compared to a net loss of $157.9 million in the first quarter of 2022. The loss comes just a few months after GameStop (GME) reported its first quarterly profit in two years. Shares of GameStop tumbled nearly 20% in after-hours trading on the news of the company’s financial results and C-suite shakeup. During this period, GameStop’s stock surged to an all-time intraday high of $483, before falling.

Persons: Matt Furlong, Ryan Cohen, Furlong, Dean Lewins, Chewy, ”, ’ Organizations: CNN, GameStop, Securities and Exchange Commission, GameStop’s, Bed, AMC Entertainment

☆ How GameStop's Ryan Cohen became the 'meme king'
▼ + stars: | 2023-06-07 | by ( Amanda Winograd | ) www.cnbc.com time to read: +2 min

"I'm worried that when they see someone talking about how Ryan Cohen isn't god and their conspiracy theories aren't correct, they will see a target that needs to be taken down for the better good. And on this spectrum of delusion — because you must be delusional to believe in these conspiracy theories — there will be people on the extreme end of that delusion." The conspiracy theories Evan refers to can be traced to the beginning of the meme-stock movement in 2021 and to GameStop, the original meme stock. Prior to jumping into GameStop, Cohen had co-founded pet food retailer Chewy and then became an activist investor. Cohen "came across that he was on the side of retail investors," said Arfan, a Reddit user who invested in GameStop at the time.

Persons: Chewy, Ryan Cohen, Evan, I'm, Brandon, Cohen Organizations: GameStop, CNBC

☆ GameStop terminates Matt Furlong as CEO; shares plummet
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - GameStop (GME.N) fired CEO Matt Furlong two years after hiring him and appointed billionaire Ryan Cohen as executive chairman, sending the company's shares down 18% in extended trading..A former executive at Amazon.com (AMZN.O), Furlong joined GameStop in 2021, just months after the company was at the center of a "meme-stock" trading frenzy where a bunch of social media-armed traders talked up the value of the stock. The company also posted its fourth consecutive fall in quarterly revenue and missed market estimates, as consumers dialed back non-essential spending in an uncertain economy. The videogame retailer reported revenue of $1.24 billion for the quarter ended April 29, compared with analysts' average estimate of $1.36 billion, according to Refinitiv. Billionaire investor Cohen, who co-founded online pet products retailer Chewy (CHWY.N) , has been serving as chairman of GameStop and is also a majority shareholder of the Texas-based company. Reporting by Samrhitha Arunasalam; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Matt Furlong, Ryan Cohen, Furlong, Refinitiv, Cohen, Samrhitha Arunasalam, Krishna Chandra Organizations: GameStop, Thomson Locations: Texas

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