GameStop stock heads higher after Chewy co-founder boosts stake

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GameStop Inc. shares rallied further in premarket trading Tuesday after the company disclosed that RC Ventures has increased its stake in the gaming retailer. According to a Securities and Exchange Commission filing from late Monday, RC Ventures, which is run by Chewy Inc. co-founder Ryan Cohen, now has a 9.6% stake in the company with about 6.2 million shares. That’s up from a 9% stake that RC Ventures had disclosed in a Friday afternoon filing. GameStop’s 4.5% climb in premarket trading Tuesday follows a 23.9% surge for the shares in Monday’s session. The stock was up 67% over the past month as of Monday’s close, compared with a 7% gain for the S&P 500 over that span.
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