MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.Ĭopyright (c) 2023 Dow Jones & Company, Inc.Įvaluate the market like an analyst. This content was created by MarketWatch, which is operated by Dow Jones & Co. ![]() GameStop shares are down 17% in 2023, compared with the S&P 500 Index's SPX gain of 11.2%. Ryan Cohen has no 'new idea': Analyst blasts 'doomed' GameStop after leadership announcement The video game retailer reported better-than-expected second-quarter results last month, boosted by international sales and what the company described as "a significant software release." GameStop is also ramping up its efforts to control costs. In its statement announcing Cohen's election as CEO, GameStop confirmed that he will not receive compensation for serving as the company's president, chief executive and chairman. Ryan Cohen becomes GameStop CEO and social media reacts: 'Changing the paradigm on Wall Street' He consolidated his power at GameStop when he became the company's chairman in June 2021. The activist investor quickly began pushing for an overhaul of GameStop, with a focus on digital sales, and he joined the company's board in January 2021. News of Cohen's 9% stake in the gaming retailer sent its stock surging. MarketWatch Investors Business Daily Penta Mansion Global Financial. Free stock market game with community trading discussion, player rank. Stock Movers, ETF Movers, and New 52 week high/lows for the NYSE and NASDAQ. (CHWY), made his first investment in GameStop in August 2020 via his investment firm RC Ventures. MarketWatch NY Daily News Entrepreneur Newsweek Barrons El Economista. Market Data - View the latest Index updates, U.S. Related: GameStop's stock soars after activist investor Ryan Cohen named CEOĪctivist investor Ryan Cohen was named CEO of GameStop (GME) last week, marking the latest chapter in his attempt to breathe new life into the video-game retailer and original meme-stock company.Ĭohen, the co-founder and former CEO of Chewy Inc. The stock, which is down for four of the last five days, is on pace for its largest percent decrease since June 8, 2023, when it fell 17.89%, according to FactSet. 23, 2021, when it closed at $11.24, FactSet data show. fell 6.9% Monday and are trading at $15.33, putting the stock on pace for its lowest close since Feb. According to the SEC report, this volatility was only in part due to the shorts covering their positions, but mostly thanks to the massive buying power of retail investors.GameStop shares are down 17% in 2023, compared with the S&P 500 Index's gain of 11.2% That’s because GameStop GME, at its now much-higher stock price, is just as. In 2021, after retail investors on Reddit noticed that the short interest exceeded 100%, the company's stock price skyrocketed from $17.25 to over US$500 per share. GameStop Stock (NYSE:GME) Hit a New 52-Week Low Yesterday Heres Why. The odds remain stacked against GameStop, even with the unexpected profit the company reported earlier this week. The company's performance declined during the mid-to-late 2010s due to the shift of video game sales to online shopping and failed investments by GameStop in smartphone retail. Debt-ceiling angst is battling with AI euphoria to leave the Wall Street barometer in the doldrums bobbing near the top of a channel it has held all year. The company was founded in Dallas in 1984 as Babbage's, and took on its current name in 1999. ![]() As of 28 January 2023, the company operates 4,413 stores including 2,949 in the United States, 216 in Canada, 419 in Australia and 829 in Europe under the GameStop, EB Games, EB Games Australia, Micromania-Zing, ThinkGeek and Zing Pop Culture brands. ![]() The company is headquartered in Grapevine, Texas, and is the largest video game retailer worldwide. Cl A Watch list Set a price target alert After Hours Last Updated: 6:29 p.m. is an American video game, consumer electronics, and gaming merchandise retailer. View real-time GME Price Prediction: My GameStop Price Target for 2025 May. The GME Stock page contains the financial information and GameStop Corp. GME Overview Stock Screener Earnings Calendar Sectors NYSE GME U.S.: NYSE GameStop Corp.
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