GME - Meme King Ryan Cohen Now Able To Trade Stocks With GameStop Funds | Benzinga
Activist investor Ryan Cohen has made some big bets on the stock market over the years, resulting in several huge winning trades, including a turnaround plan still playing out for video game retailer GameStop Corporation (NYSE:GME).
A new plan from GameStop could see Cohen's investments put to the test.
What Happened: Video game retailer GameStop reported third quarter financial results after market close Wednesday.
The company shared minimal details in its financial results and didn't hold a conference call with investors or analysts for the third straight time in the current fiscal year.
An earnings filing from the company shared a new initiative that could see Cohen making bets on stocks to improve the financial position of GameStop.
"We have traditionally invested our excess cash in investment grade short-term fixed income securities, which consist of U.S. government and agency securities and time deposits," the company said.
The company announced a change to this practice.
"On December 5, 2023, the Board of Directors approved a new investment policy that permits the Company to invest in equity securities, among other investments."
GameStop went on to say that Cohen will direct the investment activity of the company in public and private markets. At times, GameStop and Cohen may be investing in the same companies, according to the filing.
"Such investments align the interests of the Company with the interests of related parties because it places the personal resources of ...