GameStop Rises on Investor’s Plan to Make It an Amazon Rival

(Bloomberg) — Ryan Cohen, the entrepreneur who built Chewy.com into a pet-supply giant and sold it for more than $3 billion, is now pitching GameStop Corp. on a lofty goal: becoming a true competitor to Amazon.com Inc., according to a person familiar with the matter.The video-game retailer’s shares jumped as much as 28% to $11.17 in New York trading Tuesday, after Bloomberg News reported Cohen’s plans late Monday. That’s the stock’s highest level since March 2019.After acquiring a nearly 10% stake in GameStop — making him the company’s biggest individual investor — Cohen disclosed on Monday that he is holding …read more

Source:: Yahoo Finance