A Bloomberg report earlier this week claimed that GameStop?s biggest individual investor, Ryan Cohen, has plans to turn the struggling retailer into an Amazon rival. Cohen, who possesses nearly 10 percent stake in GameStop, has been engaged in talks with the company?s management and board members.
Following Bloomberg?s report, GameStop?s shares surged by 28 percent. Cohen?s firm, RC Ventures, said that it plans to ?produce the best results for all shareholders.? According to the publication, his goal is to prevent GameStop from meeting a fate similar to Blockbuster?s, which was put out of business by streaming services like Netflix.
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