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Shares, which had fallen 6. GameStop released its first earnings report on Tuesday since it became the subject of international attention during a Reddit-fuelled buying rally and named the former Amazon and Google executive Jenna Owens as its new chief operating officer. The investors had bet that Wall Street investors had overreached themselves betting that the share price would collapse and that its flagging fortunes would turn around after Ryan Cohen — founder of Chewy, the online pet supplies shop — bought a stake in the company and ed its board.
The extraordinary price surge in GameStop and other so-called meme stocks has led to congressional inquiries into the markets and the trading app Robinhood. Before the release GameStop announced its chief customer officer, Frank Hamlin, was stepping down, the latest in a series of exits since Cohen ed the board. After the call ended early, without the usual question-and-answer session from the chief executive, George Sherman, some on Reddit complained about the lackluster call.
No questions?? We knew that nothing changed. This article is more than 3 months old. Dominic Rushe in New York. Tue 23 Mar Bitcoin and Robinhood will end badly for those who can least afford it. Topics GameStop Reddit Stock markets news.
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GameStop shares fall as first earnings report released since Reddit-led rally