GameStop's CFO has resigned, GME stocks rise 200% in a day
Here we go again. GameStop has had a wild ride of a year, with the struggling retail chain finding itself in the midst of a war between Reddit and billionaire hedge funds. January's stock battle saw GME shares spark up at the end of January, going over hundreds of dollars more than what they'd been throughout December. Once all of that commotion had died down, GameStop's CFO and executive vice president, Jim Bell, announced that he would be stepping down from his positions and leaving the company later next month on March 26th. Bell didn't specify a reason for his departure, but a press release from GameStop has them thanking him for his leadership over his two-year tenure.
Curiously, while the split appears to be amicable, Business Insider alleges that Bell was "pushed" out of the company, due to board member Ryan Cohen wanting someone for the role who had future plans for the company that aligned with his own.
Meanwhile, as GameStop looks for a replacement to fill the role of CFO, the GME stocks began to tell a very familiar tale. Just as they did in January, shares rose over 100% in a single market day, opening at $44.70, and eventually closing at $91.71. The after-hours market saw the stock gain even more traction, currently sitting at a little over $140 at the time of writing, a meteoric surge of over 200%.
Source
