GameStop Corp. (NYSE:GME) CEO Ryan Cohen unveiled his ambitious plan to transform the company into a $100 billion-plus giant.

The CEO, in an interview with The Wall Street Journal on Thursday, stated that he plans to transform GameStop from an $11 billion company into a $100 billion-plus business that goes far beyond selling video games and collectibles.

To achieve the same, he is considering a significant acquisition of a publicly traded company, potentially in the consumer or retail sector, where he has extensive experience.

The billionaire declined to disclose the potential acquisition targets but indicated that they would be “big.” He acknowledged the high stakes of the move, saying that it would ultimately either prove to be “genius or totally, totally foolish.”

Burry Urges Buffett-Style Strategy

GameStop’s stock has been on a rollercoaster ride, with a recent surge following the disclosure of a fresh stake by renowned investor Michael Burry.

Burry in his Substack newsletter stated that he believes the stock could rise if Cohen uses $10 billion or more to acquire a strong business, such as an insurer with significant investable customer premiums.

Cohen told The Wall Street Journal that he hasn't spoken to Burry since at least 2019 but described him as a respected investor known for making early, accurate calls.

Benzinga’s Edge Rankings place GameStop in the 70th percentile for value and the 96th percentile for growth, reflecting its strong performance. Benzinga's screener allows you to compare GameStop’s performance with its peers.  

Price Action: Over the past year, GameStop stock declined 18.51%, as per data from Benzinga Pro. On Friday, the stock climbed 2.54% during the pre-market session.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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