Shares of video game retailer GameStop (GME - Free Report) are soaring again on Wednesday after a major shareholder increased their stake in the company. GME was up as much as 12% in mid-morning trading following a 23% gain on Tuesday; the stock closed up 5.7% to $20.57 per share.
Ryan Cohen is the co-founder of pet e-commerce platform Chewy (CHWY - Free Report) , and reported in an SEC filing that he’s taken a 12.9% stake in GME through his firm RC Ventures. Cohen previously owned about 10% of GameStop, and has called for a strategic review to help GME transition from traditional brick-and mortar retailer to full-fledged tech company. Cohen also vowed to create long-term shareholder value.
GME is one of the most shorted stocks on the market, but Cohen’s determination will surely make short sellers reevaluate their positions.
GME is up almost 240% year-to-date.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Shares of video game retailer GameStop (GME - Free Report) are soaring again on Wednesday after a major shareholder increased their stake in the company. GME was up as much as 12% in mid-morning trading following a 23% gain on Tuesday; the stock closed up 5.7% to $20.57 per share.
Ryan Cohen is the co-founder of pet e-commerce platform Chewy (CHWY - Free Report) , and reported in an SEC filing that he’s taken a 12.9% stake in GME through his firm RC Ventures. Cohen previously owned about 10% of GameStop, and has called for a strategic review to help GME transition from traditional brick-and mortar retailer to full-fledged tech company. Cohen also vowed to create long-term shareholder value.
GME is one of the most shorted stocks on the market, but Cohen’s determination will surely make short sellers reevaluate their positions.
GME is up almost 240% year-to-date.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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