GameStop CEO Ryan Cohen Announces Transformational Megadeal Aiming for $100B Valuation

GameStop shares surged 5% following CEO Ryan Cohen's announcement of a groundbreaking deal poised to elevate the company's valuation to $100 billion. Cohen, in an interview with CNBC, described the target as an undervalued consumer company with significant growth potential, though specifics remain undisclosed. "It's transformational—not just for GameStop, but for capital markets," he remarked, emphasizing the unprecedented nature of the move.

The target company, characterized by Cohen as having "lazy management," aligns with GameStop's strategy to leverage its governance structure, capital, and operational expertise. Cohen likened the ambitious plan to Berkshire Hathaway's model, albeit accelerated: "What they did in decades, we're attempting in a much shorter time." The high-stakes gamble hinges on applying GameStop's "brutal efficiency" to rapidly boost profitability.

With GameStop's current valuation at $10.5 billion, the leap to $100 billion WOULD mark a seismic shift. Cohen acknowledged the risk: "If it works, it’s genius. If it doesn’t, it will be totally foolish." The announcement has reignited speculative fervor around the meme stock, though no direct cryptocurrency or exchange linkages were identified in the context of this deal.