- The GameStop Corp. share price. (NYSE: GME) increased 103.94%. That’s why it happened.
The GameStop Corp. share price. (NYSE: GME) increased 103.94% from a previous close of US $ 44.97 to US $ 91.71 and the price reached US $ 180.26 in the overnight trading session. Investors appear to be responding to executive confusion along with other factors as an optimistic position of Keith Gill – who was one of the creators behind the short squeeze initiative r / WallStreetBets that went viral on Reddit.
GameStop announced yesterday that its chief financial officer Jim Bell will resign on March 26. In a filing with the SEC, GameStop said Bell’s resignation was not due to any disagreement with the company. But fonts with Business Insider tell a different story.
Business Insider sources said Bell was pushed by the board due to a plan that was being promoted by activist investor and Chewy co-founder Ryan Cohen. Cohen invested in GameStop last year with the intention of helping the company boost online sales, as its physical stores have struggled, especially during the pandemic.
GameStop said it started a search for a permanent CFO “with the skills and qualifications to help accelerate GameStop’s transformation”. And an executive search firm was hired to support the process. Internal and external candidates will be evaluated.
“If a permanent replacement is not in effect at the time of Mr. Bell’s departure, GameStop intends to appoint Diana Jajeh, who is currently Senior Vice President and Chief Accounting Officer, to serve as interim financial director. Ms. Jajeh has more than two decades of experience operating as an auditor, controller and corporate finance executive. After starting her career at PricewaterhouseCoopers, she subsequently held senior positions at companies like Visa and elf Cosmetics, ”wrote GameStop in a statement.
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