Finance

GameStop shares jump after CEO steps down, ‘Roaring Kitty’ ups stake

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Shoppers wait for a GameStop store to open on at the Tysons Corner Center, in Tysons, Virginia, November 27, 2020.

Hannah McKay | Reuters

GameStop rallied Monday after the video game retailer announced its CEO succession plan as it tries to pivot to e-commerce following a historic short squeeze.

Shares of GameStop jumped more than 9% to around $169 in morning trading.

The company said CEO George Sherman will step down by July 31. It said the board is leading a search to identify CEO candidates who can accelerate the next phase of the company’s transformation.

While GameStop shares are well below the record highs of $483 reached in January, the stock is still up a whopping 804% for 2021. To…



Source cnbc.com

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