Ryan Cohen, the billionaire investor whose bet on GameStop Corp made him popular with meme stock traders, took over as executive chairman on Wednesday (June 7) after the video game retailer ousted its CEO and reported a wider-than expected quarterly loss. Investors pushed the stock price down more than 20 per cent in after-hours trading, continuing a roller-coaster ride that.
The gaming retailer stated Furlong s departure from the board "did not result from any disagreement with the Company on any matter relating to the Company s operations, policies or practices."
Ryan Cohen, the billionaire investor whose bold bet on GameStop Corp made him a hero to meme stock traders, took over as executive chairman on Wednesday after the video game retailer ousted its CEO and posted a bigger-than expected quarterly loss.Investors pushed the stock price down more than 20 per cent
(Reuters) -GameStop on Wednesday fired CEO Matt Furlong two years after hiring the former Amazon.com executive and appointed billionaire Ryan Cohen as executive chairman, sending the company's shares down more than 20% in aftermarket trading. Furlong joined the videogame retailer in 2021, just months after the company was at the center of a "meme-stock" trading frenzy where a bunch of social media-armed traders talked up the value of the stock. Since Furlong's appointment was announced, GameStop