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The company’s board had in June ousted its fifth CEO in five years, leading some analysts to question whether billionaire investor Ryan Cohen, who is now executive chairman, can turn around GameStop.
The retailer, known for its brick-and-mortar stores, has struggled to deliver on Cohen’s vision to make the company a leading e-commerce firm for videogames and related merchandise.
The company’s shares have dropped about 82% from the $120.75 peak they hit during the meme-stock saga of 2021.
