UK Markets closed

GameStop Rises Sharply on Disclosure of Talks With Activist Investor

Eric Volkman, The Motley Fool
·2-min read
GameStop Rises Sharply on Disclosure of Talks With Activist Investor
GameStop Rises Sharply on Disclosure of Talks With Activist Investor

The company's shares rose precipitously on news regarding one of its key shareholders. In a regulatory filing, RC Ventures, an activist investor that owns a stake of around 10% in the company, revealed that it had been in discussions with top GameStop management. The investment firm added, "During these conversations, the Reporting Persons [i.e., RC Ventures] expressed their willingness to become more involved in the Company under certain circumstances that the Reporting Persons believe are likely to produce the best results for all shareholders."