Activist investor Ryan Cohen scores 400% gain on GameStop stock in under 6 months
- Activist investor Ryan Cohen has notched a 400% gain on his
Chewycofounder spent $76 million for 9 million shares in the video-game retailer.
- Those shares are now worth over $380 million thanks to GameStop's soaring stock price.
- Visit Business Insider's homepage for more stories.
Activist investor Ryan Cohen has scored a 400% gain on his GameStop wager in under six months.The Chewy cofounder spent about $76 million to buy 9 million shares in the video-game retailer last year, SEC filings show. Those shares are now worth more than $380 million, meaning Cohen has quintupled his investment and made north of $300 million on paper.
Cohen penned a letter to GameStop's bosses in November, criticizing them for not keeping pace with the video-game industry's shift to digital streaming, mobile, and gamers buying from mass retailers and online rivals.The entrepreneur and his team also called for GameStop to conduct a strategic review, evolve from a physical retailer into a technology company, prioritize its most profitable
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