GameStop Chairman Ryan Cohen Asks If Short Sellers Or 'Overpriced' Consultants Are More 'Reprehensible'

GameStop Corp. GME chairman and Chewy Inc. 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.”

Cohen tweeted last week that the “overpriced consultants” at Boston Consulting Group were picking a fight with the wrong company.

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.

Read Next: Pro Traders React To Robinhood Extending Trading Hours: 'Caveat Emptor'

Photo by Bill Jerome on Wikimedia

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: GamingNewsGeneralBoston Consulting GroupMeme StocksRyan Cohenstonks
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...