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GameStop snapback continues after Ryan Cohen’s election as executive chairman, CEO firing

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GameStop’s stock plunged last week after the company announced the firing of CEO Matthew Furlong and the election of Ryan Cohen as executive chairman.

GameStop Corp.’s stock rose 1% in premarket trades Monday as the video game retailer and sometime meme stock darling continued its snapback following the leadership changes that saw activist investor Ryan Cohen elected as executive chairman.

Shares of the company ended Friday’s session up 5.8%, outpacing the S&P 500 index’s SPX gain of 0.1%. GameStop’s GME stock ended Thursday’s session down 17.9%, its worst one-day performance since dropping 27.2% on June 10, 2021. The shares had plunged in Wednesday’s after-hours session after GameStop announced the firing of Chief Executive Matthew Furlong and Cohen’s election as executive chairman.

 

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