economy
January 30, 2026
GameStop's Ryan Cohen eyes 'very big' consumer megadeal that could increase company's value tenfold
Ryan Cohen wouldn't say whether he would sell GameStop's bitcoin to try to pull off a major acquisition.
TL;DR
- GameStop CEO Ryan Cohen is planning a "transformational" acquisition of a larger, undervalued consumer company.
- The acquisition aims to increase GameStop's market value to potentially hundreds of billions of dollars.
- Cohen seeks a "high quality, durable, scalable with growth prospects" consumer company with a "sleepy management team."
- Cohen believes GameStop has the governance, capital, and operational expertise to make the acquisition successful.
- GameStop has amassed over $9 billion in cash and has shown improved financial performance under Cohen's tenure.
- The company has an equity incentive for Cohen that requires reaching a $100 billion market cap and $10 billion in cumulative EBITDA.
- Investor Michael Burry has been buying GameStop shares, viewing Cohen's strategy as "making lemonade out of lemons."
- Cohen compared the strategy to Berkshire Hathaway but on a compressed timeline, focusing on brutal efficiency and profitability.
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