GameStop CFO resigns a month after the Reddit trading frenzy
CNN
After a wild several weeks for GameStop, the retailer's chief financial officer is resigning.
The company announced Tuesday that Jim Bell, its executive vice president and CFO, will resign from his roles on March 26. GameStop (GME) has started searching for a new CFO "with the capabilities and qualifications to help accelerate GameStop's transformation," it said, hinting at the company's efforts to shift its focus from physical to online retail. The announcement comes about a month after a trading frenzy fueled by the Reddit page WallStreetBets caused a massive spike — and, later, drop — in GameStop's stock. From the start of the year to January 27, when the stock closed at $347.51, shares gained nearly 1,915%. GameStop stock is now trading around $45, a big dip but still above where it started the year.More Related News
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