According to a media report, video game retailer GameStop is looking for a new chief financial officer. Mike Recupero has left the US company, political and news website Axios reports, citing a company memo. An Axios reporter wrote on Twitter that Recupero would be replaced by the head of accounts, Diana Jajeh. GameStop is also firing employees.
GameStop shares fell eight percent after the report. GameStop was initially unavailable for comment. Previously, shares rose 15 percent from regular Wall Street trading following the announcement of a stock split.
GameStop is one of the so-called “meme stocks” that small investors encourage each other to buy on relevant internet forums, such as Reddit. This has historically impacted hedge funds, which have speculated on a fall in prices due to short selling.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
