GameStop has a 1-up on the stock market.
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GameStop Shares it seemed to have a second life on Wednesday, with the stock price jumping over 80% in after-hours trading to $ 168. This was after a late-afternoon hike doubled the opening price of $ 44 , 70.
The stock recovery comes after Tuesday’s news that Jim Bell, the retailer’s chief financial officer, is stepping down. Bell will resign from GameStop on March 26, the company said in a statement. Diana Jajeh, GameStop’s current senior vice president, will serve as interim CFO while the company seeks a permanent replacement.
Bell did not leave the company willingly, according to Business Insider. He was reportedly expelled by the board for lack of faith and an initiative to reshape the company by Ryan Cohen, co-founder of Chewy, who made a major investment in the video game retailer last year.
Cohen tweeted a photo of an ice cream cone Wednesday. Although it seems to be meaningless, it happened at a time when GameStop’s stock started to rise.
THE video game retailer saw its stock price soar in late January, thanks to a push from traders on subreddit r / WallStreetBets, peaking at around $ 480. Since continued to fall, losing much of its value.