GameStop Names Meme Stock Champion Ryan Cohen as New CEO, Giving Him More Control Over Struggling Retailer

GameStop names Ryan Cohen as new CEO and chairman, giving activist investor more control as he aims to turn around the struggling retailer.
Cohen was instrumental in GameStop's meme stock rally in 2021 when retail investors drove up the price against hedge funds betting on its demise.
Cohen had initially pushed an aggressive e-commerce strategy but has relied more recently on leveraging physical stores for online order pickups.
There are concerns about the slow pace of change at GameStop and Cohen's mixed record as an activist investor at other companies.
GameStop shares have lost over 80% of their value since hitting record highs in 2021 on meme stock mania.

reuters.com

Relevant topic timeline:

9/28/2023

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