Ryan Cohen has received authority to manage GameStop's portfolio of investments.
A lot of fascinating information about GameStop’s business has come out alongside its Q3 2023 earnings report. Arguably one of the most interesting tidbits is a new investment policy that was approved by the company’s board of directors. Said policy grants CEO Ryan Cohen full control over GameStop’s investment portfolio, laying quite the interesting groundwork for the future of the company.
The announcement of GameStop’s new investment policy can be found on page 16 of the company’s 10-Q, which was filed to the SEC.
GameStop went on to list the following risks related to the new policy.
- The value of our securities may decline.
- Our portfolio of securities may be concentrated in one or a few holdings, which may result in a single holding significantly impacting the value of our investment portfolio.
- The Company is required to recognize losses in a particular security for financial statement purposes even though the Company has not actually sold the security.
With this news, it’ll be quite interesting to watch GameStop’s business over the next handful of quarters. Visit our GME topic page for more timely updates.
Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_
