Former financial plaything GameStop wants to play the stock market

GameStop Has an ‘Alarming’ Plan To Let Its CEO Gamble On The Stock Market

GameStop, the darling of the WallStreetBets retail-trading movement, has decided to allow CEO Ryan Cohen to start gambling the company’s excess cash on the stock market. It's a highly unusual move that some financial analysts are calling “inane” and “alarming,” and the meme-stock community is celebrating as the first step toward the company becoming the next Berkshire Hathaway. The struggling 90s brand, which received new life in 2021 as retail …

Former financial plaything GameStop wants to play the stock market

Normally, when a company builds up a huge cash position and not much debt, it uses the money to buy back shares and reward investors. Not GameStop. Instead, the retailer-turned-meme-stock announced it will now allow CEO and chairman Ryan Cohen to invest its $900 million in cash and cash equivalents in other companies’…Read more...