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Will Ashworth

GameStop’s Unusual Options Activity Shows How Delusional Investors Can Be

Ryan Cohen GameStop Matt Furlong GME Chewy

GameStop (GME) shares are down nearly 20% on Thursday on the news that the company fired CEO Matt Furlong after two years on the job. It didn’t help that GameStop delivered terrible quarterly results.

Handpicked by RC Ventures wunderkind Ryan Cohen, Furlong is out, and the co-founder of Chewy (CHWY) is in as executive chairman. Cohen will be responsible for capital allocation, evaluating potential investments and acquisitions, and overseeing the managers of the company’s holdings.

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