GameStop Stock Jumps as Activist Investor Ryan Cohen Named New CEO

GameStop stock surged as Ryan Cohen was elected as new CEO
Cohen is an activist investor who aims to turn around the videogame retailer
Cohen was previously chairman of GameStop's board
GameStop has struggled with declining sales in recent years
Cohen led a proxy fight last year to shake up GameStop's board

barrons.com

Relevant topic timeline:

9/28/2023

GameStop CEO Cohen Urges Frugality, Profitability in Memo to Save Struggling Retailer

Ryan Cohen, newly appointed CEO of GameStop, sent a memo to employees emphasizing the need for extreme frugality and eliminating waste in order to ensure the survival of the struggling video game retailer.

9/28/2023

Ryan Cohen Takes the Reins as GameStop CEO, Facing Uphill Battle to Transform Retailer

Ryan Cohen, the billionaire co-founder of Chewy, has officially become the president and CEO of GameStop, taking the lead in his efforts to turn around the struggling video game retailer.

10/2/2023

GameStop Shares Drop as Turnaround Efforts Falter Under New CEO Ryan Cohen

GameStop Corp. shares fell 6.9% and hit their lowest close since February 2021 after activist investor Ryan Cohen was named CEO, signaling his attempt to revitalize the company; however, GameStop is still facing significant challenges and its stock price has declined 17% this year.