In GameStop Corp.’s April 22nd’s Schedule 14A filing, George Sherman issued a letter to GameStop shareholders, likely his last as CEO of the gaming company.

Thank you for your investment in GameStop. It is my privilege to serve as GameStop’s chief executive officer, working with a group of highly-committed and knowledgeable Board members in stewardship of the long-term interests of all our stockholders.

Sherman takes the opportunity to remind GameStop shareholders of the strategic initiatives in place to support the goal of creating a customer-obsessed technology company that delights gamers.

  1. Investing in technology capabilities

    Including our E-Commerce presence, systems and customer insights gathering.

  2. Building a superior customer experience

    Including by establishing a U.S.-based customer care operation.

  3. Expanding our product catalogue and addressable market

    Certain emerging categories represent natural extensions that we believe our customers expect from us.

  4. Growing our distribution footprint fulfillment operations

    To improve speed of delivery and service. This will enable us to provide customers convenient, flexible, and competitive delivery options across the entire product spectrum.

The soon-departing CEO wraps up the letter with by thanking shareholders for their appreciation towards the newly-refreshed board, all thanks to Ryan Cohen.

As your fiduciaries, GameStop’s Board remains committed to enhancing value for our stockholders. We appreciate your support of management and the newly refreshed Board as they work to continue to create value for all stockholders.

Source: GameStop Schedule 14A

Ryan Cohen has tweeted once again. 

This time, it’s a gif of the bear from Ted seemingly enjoying himself, but then surprisingly turning around to share with us he’s shaking up a martini.

At this point, we’re not even sure if Ryan’s trying to send us all a cryptic message, or he’s just dicking around.

Some speculate that it could symbolize bearish investors “jerking off” to GME falling for years, while shorting. Then GME turns around (transforms) and pours a drink to celebrate.

The bear celebrating could also indicate that Ryan Cohen has good news from within the GameStop management executive shake-up.

GameStop has also filed a Form 4 with the SEC today for George Sherman’s forfeiture of 2020 performance-vested restricted stock award, as agreed upon in the Transition and Separation Agreement, between GameStop Corp. and George E. Sherman

Could this be the 4/20 surprise some were anticipating?

Click here for the video, in case Ryan Cohen removes it.

Source: Ryan Cohen on Twitter

On April 19th, 2021, GameStop issued a News Release and a more detailed Form 8-K to announce the official Chief Executive Officer Succession Plan.  George Sherman will be stepping down as Chief Executive Officer on July 31, 2021, or earlier upon the appointment of a successor.

The Board of Directors thanked Mr. Sherman for his significant contributions since being appointed Chief Executive Officer in April 2019.   

Most interesting of all, the GameStop board’s Strategic Planning and Capital Allocation Committee is leading the search to identify Chief Executive Officer candidates with the capabilities and experience to help accelerate the next phase of the Company’s transformation.

Who is at the head of this committee? Ryan Cohen. Other members include ex-Chewy executives Alan Attal and Jim Grube, whom Ryan Cohen chose as his board seats granted through the RC Ventures Agreement (Kurt Wolf of Hestia Capital was formerly on this committee, but parted ways with GameStop in early April).

Subject to Mr. Sherman’s reelection at the Company’s 2021 annual meeting of stockholders, he has agreed to continue to serve as a director of the Company. Following Ryan Cohen’s initiative, Mr. Sherman has declined to receive compensation for his service as a director, both before and after the Separation Date.

In the News Release, Ryan Cohen, incoming Chairman of the Board, commented,

GameStop appreciates the valuable leadership that George has provided throughout his tenure. He took many decisive steps to stabilize the business during challenging times. The Company is much stronger today than when he joined. On a personal note, I also want to thank George for forming important partnerships with the new directors and executives who have joined GameStop in recent months.

The Form 8-K also touches on George Sherman voluntarily agreeing to the elimination of all other severance rights provided in his employment agreement and has also agreed to cancel his 2020 performance-vested restricted stock award, which consisted of 308,477 shares of common stock.

George Sherman also provided departing remarks,

I am very proud of what we have accomplished at GameStop over the past two years, including during the difficult COVID-19 pandemic. It has been a privilege to lead so many dedicated, talented individuals, who collectively possess tremendous passion for the gaming industry. We have helped bring stability and strength to the business, including by de-densifying our store footprint, reducing costs and debt, and driving e-commerce growth. I also want to take this opportunity to thank our Board for all of its collaboration and support.

Source: GameStop Form 8-K , News Release

At 8:00PM, Roaring Kitty tweeted a wholesome clip of himself struggling to end his first livestream, with an addition on the end, cheering to the current stock price.

It appears that Roaring Kitty is wrapping up his public persona the way it began.

The official GameStop Twitter account, which recently began responding to customers, took the opportunity to thank the investor for all he’s done for the company, suggesting that  many great changes with GameStop are coming soon.

I’m not crying, you’re crying.

The GMEdd team applauds Keith “Roaring Kitty” Gill on everything he has accomplished as an investor and an influencer. Through his due diligence based decision making and devotion to his position, he has inspired both new retail investors and Wall Street alike. 

Thank you, Roaring Kitty.


Source: GameStop on Twitter, Roaring Kitty on Twitter

At 4:20 PM on April 16th, 2021, Roaring Kitty revealed he doubled down his GameStop position to amass 200,000 shares of the gaming retailer.

3 hours later, Ryan Cohen tweets a fistbump emoji, likely in a subtle nod to the retail investing icon’s share acquisition.

In February, Ryan Cohen followed Roaring Kitty, albeit briefly, as the face of the frenzy held GameStop through the downwards price action. This confirms that Ryan Cohen keeps tabs on the influential figure.

Roaring Kitty has seemingly responded to Ryan Cohen’s tweet with a video capture of his first live stream, where he says “Thanks for tuning in,” and wholesomely struggles to end the video, as this was all new to him.

Simpler times.

Source: Ryan Cohen on Twitter

Keith “DeepFuckingValue” Gill has posted his much anticipated April 16th 2021 update on Reddit at 4:20PM, fueling 4/20 tinfoil hat conspiracies. Gill claims this will be his final update.

The deep value investor, who is not a cat, first opened his 4/16/21 call options at the $12 strike back in December of 2019 when $GME was trading at ~$6/share.

Prior to today, the Kitty had disclosed ownership of 100,000 shares, when he doubled down in February

After sending out 20 tweets today encompassing movie references and cat gifs hinting towards his move, the retail trading icon executed his 500 remaining 4/16 calls, acquiring an additional 50,000 shares to add to his YOLO portfolio. He has also purchased an additional 50,000 shares, on top of the calls, creating a position of 200,000 shares.

Roaring Kitty’s cost basis has increased to $55.17/share.

Source: DeepFuckingValue on Reddit

On April 15th, Co-Proprietor Rod Alzmann spoke with Hedgeye Retail’s Jeremy McLean for a Hedgeye TV talk. Jeremy and Brian McGough over at Hedgeye Retail had placed $GME as their best idea long on December 17th, 2020

The retail investor duo shared their thoughts on GMEdd, Ryan Cohen, and GameStop’s path moving forward.