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Who is the new CEO of GameStop?
New York (CNN Business) GameStop is getting a new chief executive and chief financial officer, the company announced as part of its earnings release Wednesday. Matt Furlong, who will replace George Sherman as CEO, and Mike Recupero, who will be CFO, are both joining the company from Amazon (AMZN).
Why is GameStop stock so volatile this year?
The stock has been incredibly volatile this year thanks to a push from fans on social media site Reddit, who have been betting on a turnaround and battling short sellers that are betting the stock will go down. GameStop shares are up 800% in 2021 — but are currently trading 65% below their peak price from late January.
Who’s behind chewy and GameStop?
Chewy co-founder Ryan Cohen, photographed in 2019, managed a quick takeover of GameStop. Mark Abramson for the Wall Street Journal Chewy co-founder Ryan Cohen, photographed in 2019, managed a quick takeover of GameStop. Mark Abramson for the Wall Street Journal
How did GameStop’s earnings compare to Wall Street?
In addition to the major leadership announcement, GameStop posted mixed earnings results for the three months ended May 1. Quarterly revenue increased 25% year-over-year to nearly $1.28 billion, beating the $1.16 billion Wall Street analysts had projected.
Is GameStop in financial trouble?
Unfortunately, for the company, there are multiple other instances of reported financial troubles experienced by GameStop. Recent reported falling sales figures have been explained by the company’s CEO as a result of upcoming new consoles. As well, GameStop had laid off upwards of 120 workers from the company’s corporate office.
Where can I find GameStop annual reports of executive compensation and pay?
GameStop Corp. annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year.
Why is GameStop talking about next-gen consoles so much?
We can only speculate as to why this is happening, though GameStop’s CEO’s point of the looming next-gen consoles is a feasible explanation. As the next generation of console wars looms closer, more and more customers are holding onto their wallets in anticipation for a flood of new releases on upgraded hardware.