Ryan Cohen

The diversification strategy that the company had embarked on in 2013 had devolved into a ball of yarn passed like hot potato from one CEO to the next.

Free of bloat and with a return to gaming, GameStop would now enter its third and present-day era of Web3, led by the retail investor cult hero Ryan Cohen.

The removal of the AT&T and Apple divisions revealed just how much GameStop's core video game business had regressed over time.

The 2010s had been ruthless for GameStop as publishers had continued their relentless optimization of digital delivery, monetization practices, and direct-to-consumer sales.

GameStop's revenue, now exclusively reliant on just its video game business, has dropped from $8-9 billion to just $5-6 billion a year.

The average GameStop store in 2022 makes far less than it did 10 years ago, with each location's sales now at roughly $1.3 million without even adjusting for inflation.

Ryan Cohen has made no secret of his intent to reinvent GameStop as an asset-light tech startup with software margins.

Stores have been reportedly stripped down to a skeleton crew assignments of just one employee per location, and internal rumors are that the company plans to go online only with no more brick-and-mortar presence by 2025.

There was also the element of, all right, and a lot of people... maybe don't care about the companies, but see it as an investment opportunity.

And I think at that time, the thesis, if I had to summarize, was Ryan Cohen's involved.

Ryan Cohen's like a legendary entrepreneur.

Look at what he did with Chewy.

He's interested in this company.

I haven't looked at it and certainly wouldn't recommend or not recommend investing in it.

But I think that was the belief of of of some people.

And, you know, a lot of people love Ryan Cohen out there.

They're kind of on everyone's mind.

It has seemed like Ryan Cohen is-

It's 30th.

It's the 30th.

So he doesn't

like Kitty when Kitty plays golf?

Or Ryan Cohen when he does.

No, you're not allowed to play golf.

eBay is pushing into new options selling authenticated luxury goods, collectibles and refurbished products.

GameStop CEO Ryan Cohen made an unsolicited bid for eBay in May, but eBay rejected the offer, saying it was neither credible nor attractive.

Fox's Ginny Casola, I'm Lisa Lacera, this is Fox News.

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ebay is reportedly cutting staff reuters says ebay will cut about nine percent of its workforce and will shift resources to its fastest growing areas ebay is based in san jose california it previously laid off about six percent of its staff or 800 employees in february ebay is pushing into new options selling authenticated luxury goods collectibles and refurbished products GameStop CEO Ryan Cohen made an unsolicited bid for eBay in May, but eBay rejected the offer, saying it was neither credible nor attractive.

Fox's Jenny Kosola, I'm Lisa Lucera, this is Fox News.

Hi, everybody.

So Andrew Stein, a senior director of customer service at Chewy, said, Somebody at Chewy decided on purpose that a customer losing their pet is one of the most important moments in their whole relationship, and they gave frontline people the permission and the process to show up for it.

And Ryan Cohen said, The co-founder of Chewy, who set up its reputation for this, he stepped down as CEO two years before this even happened.

But these moments kept happening without the original person because it lived in the business, not with the founder.

Now, you are probably not running a pet supply company with a customer service floor, but in a business of one to 10 people, the moments that matter most to your clients, to your consumers, to your customers are often hiding in the really boring parts of your experience.

He didn't have anything specific to say about his call option bet that was going to expire a couple of weeks later.

But instead, he told people to check out his previous streams where he had explained his GameStop thesis in detail and that the new CEO, Ryan Cohen, is a large part of his confidence in the company turning around.

He seems like the type of guy, seems like he has those characteristics in the way he approaches this, seems like he might be able to do this.

But again-

But regardless, he was able to show that he still holds all of the shares and options bets that had been previously shown, now worth $350 million and shockingly, down $235 million just in that day.

I don't know how that man can sit there live in front of half a million people so calmly after losing a quarter of a billion dollars in a matter of hours.

I've certainly watched my fair share of CEOs doing an interview or a press conference and watching the stock go down live, but this was something else.

The stock started the stream at $31 per share, already down 32% from market open, and it continued to slide to 28 by the end, billions of dollars in market value wiped out in under an hour.

I got some tinfoil.

Ryan Cohen tweeted, and it was like a job posting tweet.

So I got some tinfoil around job posting tweets.

And, Pauly, I don't know if you heard, but there was a 5K on the option chain last week.

It's fair.

Probably true.

What's a failure that you think you've learned from? The great Ryan Cohen, the almighty power.

You probably screwed up once or twice.