GameStop is experiencing another major short squeeze as it hits $154 in after hours trading. Yesterday, the board fired CFO Jim Bell for his poor performance at the company. The CFO performed so poorly during his tenure that GameStop was severely undervalued and failed to take necessary measures in order to revitalize the business.
All that changed when Ryan Cohen took a majority shareholding position in the company. He added new Directors to the board to oversee the GameStop transformation and added Technology and Customer Service strength into the company’s operations.
GameStop has a lot going for it at the moment, and it looks like the company’s transformation is heading in the right direction.