May 18, 2021

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GameStop shares jump after retailer taps Ryan Cohen to lead e-commerce shift

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A man talks by his phone in front of GameStop at 6th Avenue on February 25, 2021 in New York.

John Smith | Corbis News | Getty Images

Shares of GameStop jumped 10% in premarket trading after the company announced Monday that it has tapped Chewy founder Ryan Cohen to lead its shift to e-commerce.

Cohen will serve as chairman for a special committee formed by GameStop’s board to help its transformation. Board members Alan Attal, Chewy’s former top operations executive, and Kurt Wolf, chief investment officer of Hestia Capital Management, also will serve on the committee.

Cohen invested in GameStop last year to help the company accelerate its push online.

Shares of GameStop have surged more than 700% so far this year.

This is a breaking news story. Please check back for updates.

2021-03-08 08:19:00

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