Roaring Kitty reveals stake in Chewy big enough to make him 3rd largest investor in the pet retailer
Shares of Chewy have fallen in volatile trading after a regulatory filing revealed that Roaring Kitty, an investor at the center of the meme stock craze, has taken a 6.6% stake in the online pet retailer.
GameStop slumps after it fires former Amazon executive brought in to modernize the gaming retailer
Shares of GameStop have plunged after the company fired CEO Matthew Furlong, the former Amazon executive who was brought in two years ago to turn the struggling video game retailer around.
Bed Bath & Beyond tumbles after influential investor exits
The newest meme stock on Wall Street, Bed Bath & Beyond, has tumbled even further in after-hours trading after a high-profile activist investor confirmed that heโs bailed out of the stock.
Bed Bath & Beyond shares soar as Ryan Cohen takes huge stake
The investment firm of billionaire Ryan Cohen has taken a large stake in Bed Bath & Beyond and is recommending that the struggling retailer sell all or part of its business.
GameStop lost $215 million in fiscal year; online sales gain
A hefty tax benefit helped drive GameStops fiscal fourth-quarter profit sharply higher, but the video-game retailers sales declined despite a surge in its online business. Sherman did not address the recent volatility in the company's shares in his remarks. It also named activist investor Ryan Cohen to lead the companyโs efforts to drive more of its business online. Cohen, who co-founded the online pet supply company Chewy, took a huge stake in GameStop before the online frenzy over company shares began in January. Itโs been mostly headed higher this month, buoyed in part by the companyโs recent moves aimed at strengthening its online business.
Meme fav GameStop eyes digital shift and stock flies again
FILE - In this Jan. 28, 2021 file photo, a pedestrian passes a GameStop storefront in Dallas. GameStop shares jumped around 12% in premarket trading Monday, March 8 after the video game retailer appointed a committee it said would aim to transform GameStop into a technology business. (AP Photo/LM Otero, File)NEW YORK โ GameStop took a step toward a more digital future Monday, naming an activist investor to lead company efforts to push more of its business online. Ryan Cohen, the co-founder of the online pet supply company Chewy, will chair the company's new Strategic Planning and Capital Allocation Committee. Cohen took a huge stake in GameStop before the online frenzy over company shares began in January.
GameStop shares double after tumbling for much of February
A rally in GameStop has been rare since it fell back to earth early this month. GameStop was an extreme example because some of its shares had been sold short multiple times. Gust Kepler, CEO of stocks and options platform BlackBoxStocks, said that he became aware around 3:30 EST Wednesday of โaggressive buyingโ of call options on GameStop shares. Speaking at the annual meeting of Los Angeles Daily Journal Wednesday, the Berkshire Hathaway vice chairman pinned the GameStop stock frenzy on small investors that he said were gambling on the stock market. One Redditor posted a chart in the forum showing the spike in GameStop's shares, adding: โTAKE THAT CHARLIE MUNGER.โ___Associated Press writer Josh Funk in Omaha, Nebraska, contributed to this report.