GameStop Jumps After Finance Chief Pushed Out Over Strategy
- Investors see ouster as sign company is poised for comeback
- The games retailer is undergoing a strategic business review
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GameStop Corp. shares surged anew after Chief Financial Officer Jim Bell was pushed out in a disagreement over strategy, a move investors took as a sign the video-game retailer is on the comeback trail.
Bloomberg News reported Tuesday that Bell was ousted to make way for an executive more in line with the vision of activist investor and board member Ryan Cohen. Insider also reported on the split Wednesday and investors on the Reddit discussion site seized on the news, helping send the shares up 104% to $91.71 at the close. They went on to climb as much as 118% in extended trading.