GameStop Soars With Activist Ryan Cohen Gaining Board Seats (1)

Jan. 11, 2021, 2:53 PM

GameStop Corp. jumped as much as 17% Monday after activist investor Ryan Cohen stepped up his transformation efforts at the struggling video-game retailer, gaining a seat on the company’s board along with two allies.

Cohen’s RC Ventures -- GameStop’s second-largest shareholder, with a 13% stake -- has been pressing the Grapevine, Texas-based chain to undertake a strategic review to cut more costs. Cohen, the entrepreneur who helped build up the Chewy pet-supply site, also wants GameStop to increase the variety of products and services it offers online.

“We are excited to bring our customer-obsessed mindset and technology experience to ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.