2023-10-18 16:45:51

Is Carl Icahn About to Buy GameStop (GME) Stock?

Logo InvestorPlace
InvestorPlace
By Eddie Pan

Speculation concerning corporate raider Carl Icahn purchasing a stake in GameStop (NYSE:GME) abounds after activist investor and GameStop Chairman Ryan Cohen posted a picture of the pair on Twitter (NYSE:TWTR). GME stock is up 3.5% so far today in the wake of Cohen’s post.

pic.twitter.com/n2xaaV2Lej

— Ryan Cohen (@ryancohen) October 18, 2023

Cohen rose to the spotlight after selling Chewy (NYSE:CHWY) to PetSmart for $3.55 billion in 2017. He entered into meme stock territory in August 2020 after purchasing 5.8 million shares of GME stock, equivalent to 9% of shares outstanding.

AD
AD

In January 2021, he was appointed Chairman of the video game retailer. As of March 22, he owns a total of 36.4 million shares of GameStop through his investment firm, RC Ventures, making him the largest shareholder.

Meanwhile, Icahn has been in the public scope for much longer. He founded his first fund, Icahn & Co., in 1968 and later founded Icahn Partners in 2004. Throughout his career, he has taken significant stakes in companies like Netflix (NASDAQ:NFLX), Blockbuster and Lyft (NASDAQ:LYFT), which led to his reputation as the corporate raider.

Continue read on investorplace.com

AD
Logo Benzinga
MarketsBy Chris Katje2023-10-18 15:47:34
Activist investor Ryan Cohen is a person who can move the markets with a tweet. A tweet from Cohen on Monday night has investors speculating on what could be...

Logo The Motley Fool
MarketsBy Nicholas Rossolillo2023-10-13 15:50:40
Carl Icahn is a legend in the investing world. The man even helped inspire a movie character -- Gordon Gekko from the 1987 film Wall Street. However, few...

Logo InvestorPlace
MarketsBy Joel Baglole2023-10-06 14:12:19
Famed investor Carl Icahn has a significant stake in Twitter (NYSE: TWTR ), holding more than $500 million of the social media company’s stock. Icahn, a...

Logo MarketWatch
MarketsBy Charles Passy2024-09-21 21:19:00
Wall Street icon Carl Icahn has a warning for his fellow investors: The worst is yet to come. Speaking on Wednesday at MarketWatchs Best New Ideas in Money...

Logo Benzinga
MarketsBy Robert Kuczmarski2023-09-29 16:30:33
When Carl Icahn buys shares of stock, it's what is known as the Icahn lift. This refers to the impact that the so-called corporate raider has on purchasing...

Logo The Motley Fool
Markets2024-09-21 10:39:00
GameStop 's ( GME -4.90%) current turnaround strategy is still pretty opaque to investors, but what we have seen has been primarily centered on non-fungible...

Logo Nasdaq
MarketsBy The Motley Fool2024-09-21 10:39:00
GameStop 's (NYSE: GME) current turnaround strategy is still pretty opaque to investors, but what we have seen has been primarily centered on non-fungible...

Logo MarketWatch
MarketsBy James Rogers2023-09-30 12:17:00
Bed Bath & Beyond reported a much wider-than-expected second quarter loss before the stock market opened on Thursday, but also gave an improved inventory...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-10-12 10:29:00
GameStop (NYSE: GME) became one of the market's hottest meme stocks last year amid an unprecedented Reddit-driven short squeeze. Its stock skyrocketed to a...

Logo The Motley Fool
MarketsBy Leo Sun2023-10-12 10:29:00
GameStop ( GME 1.08%) became one of the market's hottest meme stocks last year amid an unprecedented Reddit-driven short squeeze. Its stock skyrocketed to a...

Logo Benzinga
MarketsBy Robert Kuczmarski2024-09-26 17:33:21
Corvex Management was founded in 2011by Carl Icahns former right-hand man Keith Meister, and sawits assets double by 2013. Activist investor Meister used...

Logo MarketWatch
MarketsBy Cara Lombardo2023-10-05 00:10:00
Elon Musk s decision to end his war withTwitterInc.isnt just a big win for the social-media company, but also for some big-name investors likeCarl Icahn....

Logo Benzinga
Business / FinanceBy Adam Eckert2024-09-27 19:24:22
Bed Bath & Beyond Inc BBBY shares have fallenback to Earth following a short-squeeze induced rally in mid-August. The struggling retailer will have a...

Logo Nasdaq
Business / FinanceBy The Motley Fool2023-10-16 12:45:00
At 92 and 86 years of age, respectively, Warren Buffett and Carl Icahn are two of the greatest living investors -- and both are still at it! In fact, these...

Logo The Motley Fool
MarketsBy Billy Duberstein2023-10-16 12:45:00
At 92 and 86 years of age, respectively, Warren Buffett and Carl Icahn are two of the greatest living investors -- and both are still at it! In fact, these...

Logo Investing.com
CryptocurrenciesBy Cointelegraph2023-10-10 04:20:15
The chief financial officer of NFT marketplace OpenSea, Brian Roberts, has become the latest high-profile Web3 executive to step down amid the bear market,...

Logo Investing.com
MarketsBy Investing Com2023-10-07 12:44:45
By Scott Kanowsky Investing.com -- Stocks in focus in premarket trade on Friday, October 7th. Please refresh for updates. Advanced Micro Devices, Inc....

Logo The Motley Fool
MarketsBy Leo Sun2023-10-07 09:25:00
GameStop 's ( GME -1.52%) unprecedented rally last year, which was largely driven by a massive short squeeze, caused some investors to seek out other heavily...

Logo U.S. News & World Report
PoliticsBy Associated Press2023-10-03 23:12:01
By JOSH FUNK, AP Business Writer OMAHA, Neb. (AP) Billionaire Warren Buffett's successor bought nearly $70 million worth of stock in the conglomerate he is...

Logo CNBC
Business / FinanceBy Amelia Lucas2023-10-03 12:10:04
Key Points Disney executive Kareem Daniel is on McDonald's board, effective Oct. 1. His appointment is part of a broader shakeup of the fast-food giant's...