Bulletin
Investor Alert

Market Pulse Archives

March 8, 2021, 8:21 a.m. EST

GameStop stock surges after tapping Chewy co-founder Ryan Cohen to chair new strategy committee

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    GameStop Corp. Cl A (GME)
  • X
    Chewy Inc. Cl A (CHWY)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of GameStop Corp. /zigman2/quotes/203755179/composite GME +18.11% ran up 10.7% in premarket trading Monday, putting them on track to push the videogame retailer's market capitalization back above $10 billion, after the company said it established a new strategy committee to identify ways to accelerate its transformation. The committee will be chaired by activist investor Ryan Cohen, manager of RC Ventures LLC and co-founder of Chewy Inc. /zigman2/quotes/212690528/composite CHWY -2.08% , and will also include Alan Attal and Kurt Wolf. Since the committee was formed, the company has appointed a chief technology officer and hired two executives to lead its e-commerce and customer care functions. GameStop stock has run up 239.3% over the past two weeks, which followed a three-week plunge of 87.5%. That selloff followed a historic surge to a record close of $347.51 on Jan. 27, as the poster child of trading frenzy engineered by Reddit's WallStreetBets forum that targeted heavily shorted stocks. GameStop's stock has hiked up 713.1% over the past three months through Friday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.41% has tacked on 3.8%.

/zigman2/quotes/203755179/composite
US : U.S.: NYSE
$ 166.53
+25.54 +18.11%
Volume: 21.14M
April 14, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$9.87 billion
Rev. per Employee
$424,150
loading...
/zigman2/quotes/212690528/composite
US : U.S.: NYSE
$ 85.56
-1.82 -2.08%
Volume: 3.78M
April 14, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$36.29 billion
Rev. per Employee
$386,285
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,124.66
-16.93 -0.41%
Volume: 2.09B
April 14, 2021 5:15p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.