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Ryan Cohen Maps Out GameStop Turnaround Plan
Chewy co-founder is betting that a customer-service overhaul can help the retailer live up to the Reddit-fueled hype
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Perhaps no one, not even the day traders’ hero called Roaring Kitty, is more responsible for the improbable 700% rally in GameStop Corp. this year than Ryan Cohen.
At 35 years old, Cohen is a billionaire entrepreneur with a reputation for a Midas touch after building the pet-supply site he co-founded — Chewy — into a booming business. And so when word got out in mid-January that he had secured three seats on GameStop’s board after amassing a 13% stake, shares of the video-game retailer exploded. What had just been something of a run-of-the-mill outperformance in the bull market turned into a parabolic surge overnight.