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    GameStop's CFO has resigned, GME stocks rise 200% in a day

    Chary
    By Krista Noren (Chary)
    Chief Editor
    zD44OtQ.png ​

    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%.

    :arrow: Source
     
    Henx, James_, Meteor7 and 11 others like this.

    2. Discussion (30 replies)

  2. Veho

    Veho The man who cried "Ni".
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    Wow, looks like that guy was really bad for business :tpi:
     
    James_, gamefan5, x65943 and 10 others like this.
  3. Xzi

    Xzi GBAtemp's Resident Plok Expert
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    Guess I shoulda got in at $50, yeesh. So volatile though. Millions have been made and lost. Think I'll just stick with AMC, hold to tha moon. Or at least to a 300% increase. :lol:
     
    Last edited by Xzi, Feb 24, 2021
    gamefan5, XAIXER, CallmeBerto and 2 others like this.
  4. DKB

    DKB S̵̜͎̺̔̊l̷̠̈́͗̾̏͠e̴̲͇͐e̸̹̬̔p̵̧̙̺̦̾̉.̶͚̇̎̄
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    I bought at 90 and lost 150 for a long ass time, then sold at 150. I don't give a damn if they raise at this point, I made some cash and I'm happy. I don't want to be greedy.
     
    weatMod, MarkDarkness, James_ and 3 others like this.
  5. yusuo

    yusuo GBAtemp Psycho!
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    I bought £50 of amc just before it started to go up, and just out another £100 which should get taken first thing in the morning. I don't expect massive gains, but a little extra is always nice :-)
     
    MarkDarkness, Scott_pilgrim and Xzi like this.
  6. Chary

    OP Chary Never sleeps
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    As WSB says...buy in a dip!

    ...What they don't mention is that it might dip even further than the initial fall. :unsure:

    Hindsight is 20/20.
     
    XAIXER, CallmeBerto, Scott_pilgrim and 2 others like this.
  7. Silent_Gunner

    Silent_Gunner Crazy Cool Cyclops
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    Meanwhile, those in from the start are probably on a tropical resort right now!
     
    MarkDarkness, felix.200, Scott_pilgrim and 2 others like this.
  8. Xzi

    Xzi GBAtemp's Resident Plok Expert
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    Realistically I can see it going up to $21 or $22 a share (from $5ish previously) by fall/winter when theaters are close to 100% capacity allowance again. That's where their competitors sit now because they have so many locations outside of the US. At first everybody was probably cool with watching movies at home, but over a year later I'm betting a lot of people are missing the theater experience (and hanging out with friends/family in general).
     
    Scott_pilgrim likes this.
  9. JustJay

    JustJay GBAtemp Advanced Fan
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    I could step in I have tons of experience. Been playing vidya games since the 80's!
     
    Scott_pilgrim and Xzi like this.
  10. Chary

    OP Chary Never sleeps
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    I dunno, there's something nice about not having to rush to a theater and instead watch a movie from the comfort of my own house, without annoying people and kids and overpriced popcorn.

    That being said, I did go check out a movie theater near me because they remodeled and were showing the My Hero Academia movie (in late 2019...ouch for those profits they expected...) and it was actually really fun, luxurious recliners, fresh tacos and pizzas, etc. I don't miss it, but it's fun every once in a blue moon.
     
    Scott_pilgrim and Xzi like this.
  11. Scott_pilgrim

    Scott_pilgrim Nyan-binary
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    TO THE MOOOONNNNN
     
    Chary and Xzi like this.
  12. godreborn

    godreborn GBAtemp Legend
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    can't keep Reggie down. he's like the American Iwata. everyone loves him. :P
     
    Scott_pilgrim likes this.
  13. chrisrlink

    chrisrlink Has a PhD in dueling
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    probably in hiding due to the fact they maybe sued or worse for manipulating the market
     
    Silent_Gunner and Scott_pilgrim like this.
  14. DarkCoffe64

    DarkCoffe64 Bo
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    With my "luck", bet if I got any GS stock, they'd prolly plummet down into oblivion regarding the value and bankrupt them, eh
     
    Scott_pilgrim likes this.
  15. CallmeBerto

    CallmeBerto The Lone Wanderer
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    stonks only go up!!!
     
    Henx, Xzi and Scott_pilgrim like this.
  16. Xzi

    Xzi GBAtemp's Resident Plok Expert
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    The only people who were attempting to manipulate the market are the hedge funds who were shorting GME. They over-committed and caused a short squeeze. Nobody did anything wrong by buying or selling long-position (standard) stock in the midst of all that, and certainly no individual casual investor has the power to actually manipulate the market.
     
    Henx, gamesquest1, Silent_Gunner and 2 others like this.
  17. CMDreamer

    CMDreamer GBAtemp Advanced Fan
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    Some people's objectives are not those to mantain a company up and floating, but to sink them as fast as they can.

    Others, just don't have a f'ing idea of what business are about, some others are on such roles just by heritance.

    GME was sinking... fast... and the captain was not interested on it, I'm sure he wouldn't know what to do now that GME's shares are rising, he would sink anyway.
     
  18. CPG

    CPG haggis!
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    guess they want to keep the dream alive? gurantee this will happen again in about a month
     
  19. HitchensRIP

    HitchensRIP GBAtemp Regular
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    Diamond Handed my babies down to -75%

    Do not regret a second of it

    Up 50% in the time it took me to go take a poop. I shit you not
     
    Xzi likes this.
  20. SG854

    SG854 I Will Show You Paradise
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    People screaming at the screen is the best part of going to the movies.
     
    Scott_pilgrim likes this.
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