GameStop Soars After Co-Founder of Chewy Acquires a Stake
Photographer: Luke Sharrett/Bloomberg
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GameStop Corp. rose as much as 27% after an investment firm managed by the co-founder of Chewy.com acquired a stake in the troubled video-game retailer.
Ryan Cohen’s RC Ventures disclosed a 5.8 million-share stake, which amounts to a 9% holding. That makes it the third-biggest investor in GameStop, behind BlackRock and Fidelity, according to data tracked by Bloomberg.