Games

Hedge Fund Tiger Sends Letter to Gamestop Urging Retailer to Adopt a Turnaround Plan


Retail giant GameStop is being urged by investors to conduct a strategic review following the sudden departure of CEO Michael Mauler.
According to a letter seen by CNBC, hedge fund Tiger Management described the recent upheaval as “an unprecedented opportunity” to overhaul the retailer’s strategy and “revive shareholder confidence in the sustainability of the GameStop business model”.

Despite the letter, Tiger maintains it’s a passive shareholder and would simply sell GameStop shares if the company failed to “implement a turnaround plan.”
The letter urges GameStop to pause destructive acquisitions, divest some businesses and buy back stock.



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