Why GameStop Stock Popped Today

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Shares of GameStop (NYSE: GME) continued their rapid ascent on Thursday. As of 1 p.m. EST, the video game retailer’s stock price was up more than 20%. 

GameStop’s share price has more than doubled this week. The gains followed the company’s announcement on Monday that it would add three new board members, including Chewy founder and former CEO Ryan Cohen, who is one of GameStop’s largest shareholders. The new board members are expected to boost the game retailer’s e-commerce and online marketing capabilities. 

“We are excited to bring our customer-obsessed mindset and technology experience to GameStop and its strategic assets,” Cohen said in a press release. “We believe the company can enhance stockholder value by expanding the ways in which it delights customers and by becoming the ultimate destination for gamers.”

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