This morning, Olga Kharif  and Anders Melin of Bloomberg have published an article that details Ryan Cohen‘s past success with Chewy and the talent he, along with his team, bring to GameStop.

The article mentions how Cohen, who takes over as chairman in June, has brought in several of his old Chewy cohorts to help execute his plan, including the mastermind of the customer-service program, Kelli Durkin.

Cohen’s goal is to push the company rapidly into e-commerce, and according to people familiar with his thinking, he plans to borrow heavily from the model he implemented at Chewy to pull off that transition.

The piece also mentions Cohen’s personal background, regarding his lack of a college education and the path of his father inspiring his demeanor.

Cohen, who was born in Montreal, never went to college. He has credited much of his success building Chewy to his father, who ran a glassware business and died in 2019. In person, Cohen has a soft-spoken demeanor, revealing little of his shrewd business instincts and ability to drive bargains with suppliers, former colleagues say.

Kharif and Melin also delve into Cohen’s mischievous Twitter usage, something we have spent hours speculating on.

Cohen has embraced the mischievous spirit of Elon Musk as he pursues a GameStop comeback. Like Tesla Inc. ’s prankster-king, he posts goofy and sometimes mysterious images on social media (a poop emoji over a picture of a Blockbuster store or the stuffed bear from the movie “Ted” using a bong ). That’s helped him win over the Reddit crowd, which turned GameStop into a so-called meme stock.

While none of this is news to GMEdd readers, it is bullish to see the press picking up on the real story behind the  GameStop investment thesis.

Check out the article to read more

Source: Bloomberg

On April 15th, GMEdd.com Co-Proprietor Rod Alzmann spoke with Hedgeye Retail’s Jeremy McLean for a Hedgeye TV talk. Jeremy and Brian McGough over at Hedgeye Retail had placed $GME as their best idea long on December 17th, 2020

The retail investor duo shared their thoughts on GMEdd, Ryan Cohen, and GameStop’s path moving forward.

Tae Kim, a technology columnist for Bloomberg Opinion, has published an article titled, “GameStop Stock Mania Is Making Its Turnaround Possible” The article references how the $1B offering is bullish for GameStop and allows Ryan Cohen to fund his transformation moving forward, shifting away from the traditional retail experience. 

It is a prudent and necessary move. With GameStop’s share price up nearly 900% this year, the company will be able to raise significantly more funds to expand its e-commerce capabilities. The turnaround plan outlined in its latest annual report includes building fulfillment operations for faster delivery times, overhauling its website and starting a U.S.-based customer service operation. All these initiatives are needed to improve GameStop’s customer experience and will require significant investments.

Tae Kim has been reporting on GameStop’s fundamentals since long before the volatility of January, so we recommend checking him out.

Source: Bloomberg Opinion

In this Benzinga Power Hour clip from Thursday, April 1st, leading GameStop analyst and GMEdd.com Co-Proprietor  Rod Alzmann discusses his current life in the theta-gang. After sharing his thoughts on selling cash-secured puts on $GME, Rod explains how his projections are even higher than before, justified by GameStop’s latest corporate developments including recent Amazon and Chewy hires.

Rod and Luke also reflect on the insane premiums traders face in the $GME options chain.

Source: Benzinga on YouTube

Revealed via Bloomberg terminal, Third Bridge Forum will be hosting the interview ‘GameStop — E-Commerce Transformation & Structural Business Overview’ tomorrow, March 30th, at 3PM ET.

The agenda reveals the discussion will focus around:

  • Key competitive dynamics in the video game retail industry — GameStop, Walmart, Best Buy, and Target
  • Revenue analysis of GameStop’s existing business segments — new, pre-owned and accessories
  • Digital transformation efforts — online sales and penetration growth methods
  • Foot traffic recovery trends post-pandemic
  • Near-term risks highlighting public image and longer-term outlook.

This event will serve as a discussion for analysts to share their thoughts on GameStop’s existing and developing retail experience alongside the greater video game retail industry. The spread of fear, uncertainty and doubt from some is inevitable. It is unknown whether or not an official from GameStop will be present, but it would be unprecedented.

When Gamestop announced their strategic multi-year partnership with Microsoft on October 8th 2020, the relevant Third Bridge Forum interview was not until October 21st, 2 weeks later. Knowing this, we can assume they will be discussing information that we already know, likely analyzing the most recent 10-K filing. 

Constructive chatter amongst Wall Street about the future of GameStop is always welcome, and we look forward to hearing what viewpoints are shared.

Maybe Ryan Cohen will drop some news pre-market so they have something to chirp about. 

Source: Third Bridge


April 7th 2021 Editorial Update: GMEdd has obtained a copy of the Third Bridge Interview transcript, and it is now available here.

In this clip from What’d You Miss? on Bloomberg TV, GMEdd.com co-proprietor Rod Alzmann speaks with Bloomberg’s Caroline Hyde and Joe Weisenthal about how GameStop is trying to look past lackluster Q4 results that sent the shares sliding today. Rod also discusses how the company has appointed a trio of new executives with tech experience to its ranks.

Source: Bloomberg 

When New Jersey teacher Steven Titus sent emails to GameStop Corp. complaining about the slow shipping of an order, he received a late night call to apologize – from a director on the video game retailer’s board.

Ryan Cohen took it upon himself to speak with the New Jersey teacher.

“I just got your email, I’m so sorry this happened. Let me get to the bottom of this,” Ryan Cohen told Titus.

Ryan Cohen then asked GameStop’s new customer service chief Kelli Durkin, who spearheaded initiatives at Chewy that included written personal notes to customers, to look into the matter.

Titus was reimbursed for his purchase, even though he had not requested a refund and was only complaining about the tardiness of his order.

This phone call is stated to have occured in early March.

As previously speculated, it’s safe to say that some of Ryan’s first initiatives at GameStop will be to revamp the customer service experience, as proven by his recruiting of Kelli Durkin into the role of Senior Vice President of Customer Service at GameStop.

Source: Reuters

In this Benzinga Power Hour clip from today, March 10th, leading GameStop analyst and GMEdd.com Co-Proprietor Rod Alzmann discusses the GameStop’s latest corporate developments alongside the rapid trading halts amid groundbreaking price volatility. Rod and Luke also reflect on the history of GameStop’s share price and what has caused certain price action.

While live on the air, GameStop shares reached a sixth trading halt in only a matter of hours.

Source: Benzinga on YouTube


In an incredibly brief article published in Business Insider, Ryan Cohen is recognized for his efforts thus far to transform GameStop into the Amazon of gaming.

Ryan Cohen, the Chewy cofounder and former CEO who convinced Wall Street that pets are big business, has a new pet project: a new initiative to transform GameStop, the world’s largest video game retailer, into the Amazon of gaming.

The coverage goes on to share how Cohen bought up a sizable chunk of GameStop shares in 2020, accumulating over 12% of the company by December and sending stock value soaring by investors who caught his move early (Hey, that’s us).

Reference is made to Cohen’s famous November 2020 letter to the board, and how Ryan is now in charge of enabling that “strategic vision” at GameStop, alongside likeminded colleagues.

While we appreciate any and all media coverage on RC’s GameStop transformation, this one didn’t present any non-surface-level info, and we prefer Business Insider’s earlier profile that shared more background. Check that one out instead, and pass on this one.

Source: Business Insider

In this clip from What’d You Miss? on Bloomberg TV, GMEdd.com co-proprietor Rod Alzmann speaks with Bloomberg’s Caroline Hyde, Romaine Bostick and Joe Weisenthal about how GameStop has surged more than 140% in the past two days alone, putting it on pace for its biggest weekly gain since January. Analysts cited a Tweet by activist investor and GameStop board member Ryan Cohen posted shortly before the stock started surging on Wednesday, suggesting some may see it as a message to resume buying. 

Source: Bloomberg