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GameStop Surges on Report Activist Pushed Out CFO

·1-min read

By Liz Moyer

Investing.com-- GameStop Corp (NYSE:GME) doubled during Wednesdays trading session and continued to rise in after-hours trading after reports an activist led a shake up in the executive suite.

The so-called meme stock rose 25% in after-market hours after gaining 103.9% during market hours.

GameStop said on Tuesday its chief financial officer would leave later next month. Insider reported that the departure was orchestrated by Ryan Cohen, the co-founder of Chewy Inc (NYSE:CHWY) who invested in GameStop last year. Bloomberg reported the board pushed out the CFO, Jim Bell, "to make way for an executive more in line with the vision of activist investor and board member Ryan Cohen."

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