Thursday, October 9, 2025

Latest

GameStop Shares Rise After CEO’s Departure Confirmed

GameStop (NYSE: GME) shares rose by more than 6% on Monday, after the video game retailer revealed that its current CEO, George Sherman, will be stepping down before the end of July.

As Chairman Ryan Cohen continues his overhaul of GameStop, CEO George Sherman has become the latest in a string of executives to leave the company as of recent. On Monday, Sherman confirmed he would be leaving his position effective July 31, marking the end of a tenure that failed to reverse falling sales and unattained performance targets.

The latest move does not come as a surprise, given that earlier this month Reuters reported on the rumour that the video game retailer was searching for a successor to take Sherman’s position. According to a company filing earlier in March, Sherman forfeited nearly 587,000 shares, after failing to achieve performance targets. The soon-to-be former CEO also gave up nearly $12 million in stock in order cover compensation-related taxes.

Shares of GameStop have risen by more than 721% since the beginning of the year, after a Reddit forum prompted unprecedented interest among retail investors. The company is planning to capitalize on the new gains by issuing shares, and selling as much as $1 billion in additional stock. Activist investor and GameStop Chairman Ryan Cohen is initiating the turnaround campaign, which is expected to see the company transition from physical retail to online commerce.


Information for this briefing was found via GameStop and Reuters. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

First Majestic Posts Record Quarterly Silver Production In Q3

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

Related News

GameStop Is Closing Its NFT Marketplace

GameStop (NYSE: GME) is throwing in the towel for its NFT Marketplace just a little...

Thursday, January 18, 2024, 12:19:00 PM

GameStop Earnings Plummet As It Shakes Up Management

Last night, GameStop Corp. (NYSE: GME) abruptly, and without stated reason, fired its CEO Matt...

Thursday, June 8, 2023, 07:29:00 AM

‘The Wolf of Wall Street’ Jordan Belfort Says Robinhood is ‘Toast’ Following GameStop Fiasco

The sudden decision by Robinhood to halt trading of several highly volatile stocks following the...

Tuesday, February 2, 2021, 03:56:00 PM

Market Manipulation: How It Works.

“Market manipulation?” You want market manipulation? I’ll give you market manipulation. There are two main...

Friday, January 29, 2021, 10:29:00 AM

GameStop Terminates Employment Of Chief Operating Officer After 7 Months

GameStop Corp (NYSE: GME) is now without a chief operating officer. The company filed an...

Sunday, October 31, 2021, 03:38:00 PM