GameStop Corp. (NYSE:GME) chairman and Chewy Inc. (NYSE:CHWY) co-founder Ryan Cohen expressed his dislike for short sellers as well as “overpriced” consultants on Wednesday.
What Happened: Cohen took to Twitter to ask whether hedge fund short sellers or overpriced consultants are “more reprehensible.”
Who is more reprehensible, hedge fund short sellers or overpriced consultants?
— Ryan Cohen (@ryancohen) March 31, 2022
Cohen tweeted last week that the “overpriced consultants” at Boston Consulting Group were picking a fight with the wrong company.
The overpriced consultants at BCG are picking a fight with the wrong company… @BCG
— Ryan Cohen (@ryancohen) March 24, 2022
See Also: Jim Cramer Takes Dig At GameStop Chairman Ryan Cohen, Says Chewy Exists Because Of 'Family Money'
Why It Matters: BCG sued GameStop for not paying about $30 million in fees after it was hired as a consultant by the videogame retailer in 2019, it was reported last week, citing Bloomberg.
Cohen also said earlier this month that the government should crack down on hedge fund short sellers to make good use of taxpayer money.
One of the most heavily shorted stocks last year and a darling of the Reddit investor forum r/WallStreetBets, GameStop’s stock continues to see high interest from retail investors after Cohen disclosed last week that he has raised his stake in the company.
Price Action: GameStop shares closed 7.5% lower in Wednesday’s regular trading session at $166.33 and further lost 1.5% in the after-hours session to $163.90, according to data from Benzinga Pro.
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Photo by Bill Jerome on Wikimedia
