GameStop Inc. shares (GME) are up about 20% in Monday trading after RC Ventures LLC disclosed that it has taken a 9% stake in the gaming retailer. RC Ventures, which is managed by investor Ryan Cohen, said in a late Friday filing with the Securities and Exchange Commission that it had amassed 5.8 million shares of GameStop. Cohen is the co-founder of online pet-supply retailer Chewy Inc. (CHWY) and he's made investments ( ) in Apple Inc. (AAPL) as well. GameStop shares have surged 61% over the past month as the S&P 500 has rallied 7%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 31, 2020 10:47 ET (14:47 GMT)
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