GameStop still has some life in the stock market.
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GameStop stock Shot Monday and closed at $ 194.50, a 41% increase over the opening price. The rise coincided with the fact that the stock market increased after the expiration of the COVID Lighting Act Saturday in the Senate and news that the company is developing a new e-commerce strategy with Chewy.com founder Ryan Cohen at the helm.
Cohen, who made a major investment in the video game retailer last year, will lead a committee to develop initiatives to transform GameStop, the company said in a press release on Monday. The focus will be on making the business a technology venture and looking for areas where it can improve on that aspect.
GameStop shares soared end of January thanks to a push through traders on the subreddit r / WallStreetBetsreached a high of about $ 480. continued to decline and lost much of its value.
Shares rose at the end of February following news that Jim Bell, chief financial officer of the trader, had resigned. According to Business Insider, Bell did not leave the company willingly. He was apparently ousted by the board due to a lack of faith and an initiative to reform the company by Cohen.
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