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2021-03-10

Did you guys buy in too?

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The committee is being led by<b>Chewy</b>(NYSE:CHWY)founder and former CEO Ryan Cohen, who is one of GameStop's largest shareholders.</p><p>The committee is working to strengthen GameStop's digital capabilities. E-commerce has become a vital segment of the company's business, as sales of traditional game discs have largely given way to digital downloads in recent years.</p><p>GameStop has hired several executives to spearhead its technology-focused initiatives. It's also looking for a new chief financial officer following CFO Jim Bell's resignation in February.</p><p><b>Now what</b></p><p>GameStop has long searched for ways to adapt its operations to changing consumer preferences. Digital game downloads represent an existential threat for its brick-and-mortar retail stores and high-margin used game business, and GameStop has struggled to overcome sales declines in these areas.</p><p>Cohen joined GameStop's board in January, with the goal of helping to improve the game retailer's online abilities. \"We are excited to bring our customer-obsessed mindset and technology experience to GameStop and its strategic assets,\" Cohen said in a press release announcing his board appointment.</p><p>Cohen's appointment helped to ignite ashort squeezein GameStop that drove its stock price up more than 15-fold before it fizzled out and its shares reversed course. 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The committee is being led byChewy(NYSE:CHWY)founder and former CEO Ryan Cohen, who is one of GameStop's largest shareholders.The committee is working to strengthen GameStop's digital capabilities. E-commerce has become a vital segment of the company's business, as sales of traditional game discs have largely given way to digital downloads in recent years.GameStop has hired several executives to spearhead its technology-focused initiatives. It's also looking for a new chief financial officer following CFO Jim Bell's resignation in February.Now whatGameStop has long searched for ways to adapt its operations to changing consumer preferences. 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