Can Activist Investors Force GameStop to Evolve? [The Motley Fool]
GameStop Corporation (GME)
Last gamestop corporation earnings: 3/26 04:06 pm
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Source: The Motley Fool
Can Activist Investors Force GameStop to Evolve? GameStop ( NYSE:GME Those problems caused many investors to dub GameStop the "next Blockbuster," but some investors still believe that the beaten-down retailer can stage a comeback. Two of those long-term investors, Hestia Capital and Permit Capital, recently penned an open letter Image source: Getty Images. Hestia and Permit, which together own a .% stake in GameStop, aren't typically activist investors. However, the firms now believe that they should take an activist stand to address GameStop's "destruction" of shareholder value. Hestia and Permit warned the board, "[I]f this letter fails to elicit an acceptable response, we are prepared to take our proposals directly to stockholders and nominate directors for election at the Company's 09 annual meeting." Will this activist push gain momentum and break GameStop out of its multiyear rut, or will it fall on deaf ears? Replacing a "stale" board Hestia and Permit's main complaint is that
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GME
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- 3/26/24 - Miss
GME
Sec Filings
- 4/23/24 - Form 144
- 4/19/24 - Form 144
- 4/10/24 - Form 4
- GME's page on the SEC website