The CEO of video game retailer, GameStop Corp. GME, Ryan Cohen, is searching for top U.S.-based product and graphic designers.
What Happened: On Thursday, Cohen took to Elon Musk’s X, formerly Twitter, and encouraged interested designers to submit their portfolios to tateam@gamestop.com.
Cohen took the position of CEO at GameStop in September last year. He was already the executive chairman and the company’s largest investor.
At the time of writing, his post had received more than 63,000 views, and while many people in the comment section only sent memes, some also seemed genuinely interested.
Musk has been trying to promote his social media platform as an alternative to LinkedIn. Previously, his EV giant Tesla and OpenAI CEO Sam Altman has also used X to hire talent.
Why It Matters: This latest announcement of team expansion comes after a series of significant events for GameStop.
In June 2024, the company released its first-quarter results, reporting net sales of $881.8 million, a decrease from $1.237 billion year-over-year. The company also reported a loss of 12 cents per share, missing the estimate of a loss of 9 cents per share.
During the same time, Keith Gill, the trading influencer widely recognized as “Roaring Kitty,” accumulated a $262 million stake in GameStop. This led to discussions about market manipulation in the meme-stock era.
Shortly after, GameStop announced the completion of its at-the-market (ATM) equity offering program, raising approximately $2.137 billion.
Following the completion of the ATM program, Jim Cramer declared victory for GameStop, suggesting a transformation could be on the horizon.
Price Action: GameStop shares fell 1.9% in the regular session to $22.12 and rose 0.2% in the after-hours session, according to data from Benzinga Pro.
Image Courtesy: Flickr
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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