GameStop CEO Ryan Cohen Targets $100 Billion Valuation With 'Big' Acquisition Plan: 'Genius Or...Totally Foolish'

GameStop Corp. (NYSE:GME) CEO Ryan Cohen unveiled his ambitious program to alteration the company into a $100 billion-plus giant.

The CEO, successful an interrogation with The Wall Street Journal connected Thursday, stated that helium plans to alteration GameStop from an $11 cardinal institution into a $100 billion-plus concern that goes acold beyond selling video games and collectibles.

To execute the same, helium is considering a significant acquisition of a publically traded company, potentially in the user oregon retail sector, wherever helium has extended experience.

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The billionaire declined to disclose the imaginable acquisition targets but indicated that they would beryllium “big.” He acknowledged the precocious stakes of the move, saying that it would yet either beryllium to beryllium “genius oregon totally, wholly foolish.”

GameStop’s banal has been connected a rollercoaster ride, with a caller surge pursuing the disclosure of a caller involvement by renowned investor Michael Burry.

Burry, celebrated for his prescient stake against the U.S. lodging marketplace successful 2008, drew parallels betwixt Cohen and legendary investor Warren Buffett, suggesting that GameStop should travel the Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) playbook and usage its monolithic currency reserve to marque consequential acquisitions.

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Burry successful his Substack newsletter stated that helium believes the banal could emergence if Cohen uses $10 cardinal oregon much to get a beardown business, specified arsenic an insurer with important investable lawsuit premiums.

Cohen told The Wall Street Journal that helium hasn't spoken to Burry since astatine slightest 2019 but described him arsenic a respected capitalist known for making early, close calls.

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