Meme stock GameStop (NYSE: GME) surged in pre-market trading on Thursday after the video game retailer named activist investor Ryan Cohen as the new CEO, effective immediately. The retailer stated that Cohen would not be receiving any compensation for his work as the company’s CEO, President, and Executive Chairman.
Around three months back, GameStop fired its CEO Matthew Furlong, and had appointed Cohen as Executive Chairman. GameStop posted better-than-expected earnings in the second quarter.
Is GME a Good Buy Right Now?
GME stock does not seem to be a good buy right now as the stock has slid by more than 20% in the past six months. Besides, only one analyst has covered the stock in the past three months with a Sell rating.