Shares of GameStop Corp. GME are up 7.4% Tuesday, putting the stock on pace for its largest single daily percentage gain since June 13, 2023, when it gained 10.9%. The stock is also on pace to snap a four-day losing streak. Activist investor Ryan Cohen was named CEO of GameStop last month, marking the latest chapter in his attempt to breathe new life into the videogame retailer and original meme-stock company. GameStop shares are down 25.6% in 2023, compared with the S&P 500 index’s SPX gain of 9.1%.
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