GameStop spikes 14% after announcing board member Ryan Cohen will lead its transition to e-commerce

• GameStop rose 14% on Monday after Ryan Cohen was announced as chairperson for a new committee.
• Cohen will lead the video-game retailer's transition to an Amazon-like e-commerce business.
• Shares in GameStop rose more than 1,600% in January amid the Reddit-fuelled trading frenzy.

Shares in $4 rose 14% in regular trading Monday after the company announced board member and Chewy founder $4.

Cohen has been appointed chairperson of a planning committee that aims to transition the company to an e-commerce business. Members of the committee include Alan Attal, Kurt Wolf, and Cohen himself.

Cohen has been actively pushing for the company to gravitate away from its traditional brick-and-mortar model $4.

Since the committee's formation, they appointed $4, hired two executives to lead the customer care and e-commerce fulfillment functions, and have been seeking a replacement for $4. Bloomberg $4 earlier on Monday Cohen would be tapped for the role.

Shares in GameStop rose more than 1,600% in January after a wave of Reddit-fuelled retail traders $4 that were betting against the stock.

Shares were up as much as 14% in regular trading at $157.05 per share.