Why GameStop's Stock Is Trading Higher Today

GameStop GME shares are trading higher after RC Ventures on Friday reported a 9% active stake in the company.

RC Ventures is managed by Ryan Cohen, who is the co-founder and ex-CEO of Chewy, an e-commerce company for pets.

GameStop Corp is a U.S. multichannel video game, consumer electronics, and services retailer. The company operates across Europe, Canada, Australia, and the United States. The company has two main business segments: Video game brands and Technology brands. The technology brands segment sells wireless products and services and operates Spring Mobile managed AT&T and Cricket Wireless branded stores, along with the Simply Mac business.

GameStop was 18.92% higher at $6.41 at the time of publication. The stock has a 52-week high $6.92 and a 52-week low of $2.57.