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@ 2023/06/09…soon after it announced part of its first quarter earnings
GameStop has fired CEO Matt Furlong, the company announced as part of its first quarter 2023 earnings.
Board chairman Ryan Cohen has been appointed executive chairman and seems to be taking over. Cohen, who founded the e-commerce site Chewy, has invested in several "memestocks" including GameStop and Bed, Bath and Beyond. His surprise sale of Bed, Bath, and Beyond stock in 2022 raised eyebrows and led to at least one lawsuit accusing him of pumping and dumping the stock.
His initial investment in GameStop in early 2021 led to an enormous rise in the stock and contributed to its status as a memestock beloved by the Reddit sub r/wallstreetbets.
GameStop has fired CEO Matt Furlong, the company announced as part of its first quarter 2023 earnings.
Board chairman Ryan Cohen has been appointed executive chairman and seems to be taking over. Cohen, who founded the e-commerce site Chewy, has invested in several "memestocks" including GameStop and Bed, Bath and Beyond. His surprise sale of Bed, Bath, and Beyond stock in 2022 raised eyebrows and led to at least one lawsuit accusing him of pumping and dumping the stock.
His initial investment in GameStop in early 2021 led to an enormous rise in the stock and contributed to its status as a memestock beloved by the Reddit sub r/wallstreetbets.
