GameStop's Stock Price Jumps After New Chairman Announcement

GameStop's stock price saw another jump after the retail company announced that Chewy co-founder Ryan Cohen would become its chairman after GameStop's annual shareholder meeting. GameStop's stock jumped by nearly 4% during early trading on Thursday after the company formally announced that Ryan Cohen, the co-founder of the online retailer Chewy, would become its new chairman later this year. Cohen's investor group RC Ventures invested in GameStop last year and has pushed a transformation of sorts within the company, with GameStop shedding unprofitable locations within malls and pivoting to focus more on online sales.