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GameStop (GME) spikes after naming Chewy cofounder Ryan Cohen as e-commerce lead

The hiring of Chewy founder Ryan Cohen as e-commerce lead sends GameStop (GME) stocks rising again.
Donovan Erskine
Donovan Erskine
7

GameStop (GME) continues to be an unpredictable stock, as its value has repeatedly skyrocketed following the short squeeze that took place earlier this year. Now, GameStop (GME) is on the rise once again following the news that the gaming retailer has hired Ryan Cohen, the cofounder of Chewy, as its e-commerce lead.

On Monday, March 8, GameStop announced that it would be selecting Chewy cofounder Ryan Cohen to lead its e-commerce efforts. Cohen will serve as Chairman of a new committee formed by GameStop’s board, as reported by NBC. This is far from the beginning of Cohen’s history with GameStop, as he invested into the retailer back in 2020.

Ryan Cohen’s investment in GameStop (GME) played a key role in the stock’s boom back in January, where we saw it reach all-time highs. Following the news of Ryan Cohen being tapped to lead the company’s e-commerce initiatives, GameStop (GME) spiked yet again, jumping roughly 11 percent in value.

Most recently, we saw GameStop’s (GME) stock soar last month just before the market closed on February 24. With Ryan Cohen being a favorite amongst GameStop investors, it’s no surprise that his hiring as e-commerce lead influenced another jump in value. For more on the latest with GameStop (GME) stick with us right here on Shacknews.

News Editor
News Editor

Donovan is a journalist from Maryland. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_

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