{"id":143448,"date":"2021-11-02T10:07:27","date_gmt":"2021-11-02T10:07:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143448"},"modified":"2021-11-02T10:07:27","modified_gmt":"2021-11-02T10:07:27","slug":"spirit-halloween-haunted-by-supply-issues-amid-record-high-sales","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/spirit-halloween-haunted-by-supply-issues-amid-record-high-sales\/","title":{"rendered":"Spirit Halloween haunted by supply issues amid record high sales"},"content":{"rendered":"<p><cite>New York, NY (CNN)<\/cite>GameStop chief operating officer Jenna Owens is leaving the company seven months after joining it, the company said in a regulatory filing.<\/p>\n<p>The Texas-based company did not specify why Owens was leaving. The filing said both parties entered a separation agreement which went into effect on October 25.<br \/>\nOwens could not be reached. GameStop did not reply to a request for comment from CNN Business. <\/p>\n<ul><\/ul>\n<p><img decoding=\"async\" alt=\"How AMC and GameStop became Reddit faves\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210610083041-01-reddit-gamestop---stock-large-169.jpg\"><\/p>\n<p>GameStop, a video game and consumer electronics retailer, caught everyone&#8217;s attention early this year when amateur investors on Reddit targeted the &#8220;meme stock,&#8221; sending its shares soaring. At the time, GameStop was being &#8220;shorted&#8221; by hedge funds \u2014 they were selling borrowed shares with the hope the price would drop<strong> \u2014 <\/strong>but the Reddit traders fueled a &#8220;short squeeze,&#8221; which occurs when short-sellers have to repurchase the shares they borrowed because the stock price is rising.<\/p>\n<ul><\/ul>\n<p>The company&#8217;s share price rose approximately 2,700 from its intraday low on January 8 to its intraday high on January 28, followed by a decrease of over 86% from that day to early February, according to a Securities and Exchange Commission report published in October.<\/p>\n<p>The company has since hired several people for key management positions in an effort to transform itself<strong> <\/strong>into an e-commerce retailer. Chewy.com founder Ryan Cohen was confirmed as chairman of the company&#8217;s board in June, and later that month the company announced the hiring of two former Amazon executives, Matt Furlong as CEO and Mike Recupero as CFO.<br \/>\n<img decoding=\"async\" alt=\"GameStop raids Amazon for another heavy-hitter exec\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210330150206-gamestop-0323-restricted-large-169.jpg\"><br \/>\nGameStop (GME) has said it wants<strong> <\/strong>to transition from a struggling brick-and-mortar video game retailer into an e-commerce powerhouse.<br \/>\nOwens is a former executive of Amazon and Google. She could not be reached for comment.<br \/>\nThe filing said her responsibilities would be absorbed by other executives at the company, adding Owens is entitled to severance benefits, including six months base pay and the remaining portion of her signing<strong> <\/strong>bonus.<\/p>\n<ul><\/ul>\n<p>GameStop closed at $183.51 per share on Friday. In January, it reached a high of $347 per share.<br \/>\n<em>CNN&#8217;s Clare Duffy contributed to this report. <\/em><br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/10\/30\/business\/gamestop-coo-leaves-jenna-owens\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York, NY (CNN)GameStop chief operating officer<\/p>\n","protected":false},"author":3,"featured_media":143447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spirit Halloween haunted by supply issues amid record high sales - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/spirit-halloween-haunted-by-supply-issues-amid-record-high-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Spirit Halloween haunted by supply issues amid record high sales - 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