Breaking: GameStop (GME) to appoint Ryan Cohen as chairman, shares at key technical support


Update: GameStop shares have slid back a bit after the open and are now up 1% at $179.83. Ryan cohen has already taken a leading role in the company so perhaps this news merely confirms what investors already knew. GME has just failed to break 9 day moving average resistance at $185 and is close to breaking the 9 day at $179.30.

GameStop (GME) has reported that at its June 9, 2021 Annual Meeting it will appoint Ryan Cohen as chairman. GameStop will appoint six directors. GME also said that after the annual meeting all directors will be paid 100% in equity and that individual director compensation will fall by 28% from the last year.

Larry Cheng from Volition Capital and the first Chewy investor will join the GameStop board.

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Market reaction

GameStop shares are trading at $183.51, a rise of 3% in Thursday's pre-market.

GME

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