Jim Cramer Takes Dig At GameStop Chairman Ryan Cohen, Says Chewy Exists Because Of 'Family Money'

Jim Cramer Takes Dig At GameStop Chairman Ryan Cohen, Says Chewy Exists Because Of 'Family Money'

CNBC host Jim Cramer has taken a dig at Ryan Cohen after the GameStop Corp. GME chairman raised his stake in the videogame retailer on Tuesday.

What Happened: Cramer took to Twitter, asking Cohen to take GameStop as well as Bed Bath & Beyond Inc. BBBY private and “create joy.”

In early March, Cohen acquired a 9.8% stake in Bed Bath & Beyond and urged the retailer to explore strategic alternatives that include separating the Buybuy Baby chain and a full sale of the company.

Cramer also responded to a tweet that said online pet supplies retailer Chewy Inc. CHWY — co-founded by Cohen — would not exist without family money and that Cohen was not “the miracle some hoped.”

See Also: Chewy, GameStop, Bed Bath & Beyond: How Have Ryan Cohen's E-Commerce Bets Performed?

Why It Matters: Cohen has been vocal about closing underperforming stores and moving the videogame retailer into more e-commerce growth initiatives.

GameStop — a darling of the Reddit investor forum r/WallStreetBets and one of the most heavily shorted stocks last year — continues to see high interest from retail investors. 

Cramer has frequently clashed with the WSB community, which is best-known for the short squeezes conducted in stocks like GameStop and AMC Entertainment Holdings Inc. AMC last year.

In June last year, Cramer told the WSB forum to remain focused on AMC and GameStop, as “too much money” was being lost on other stonks — stocks that are favored by retail investors.

Price Action: GameStop shares closed 30.7% higher in Tuesday’s regular trading session at $123.14 and further rose 16.3% in the after-hours session to $143.20.

Read Next: Meme Stocks Are Running Up In After-Hours Trading As GameStop, Koss Continue Surge

Photo: Courtesy of Bill Jerome via Flickr

Posted In: Jim CramerRyan CohenShort SqueezestonksEntertainmentNewsGeneral