GameStop appoints Nat Turner to board, tightens links with Collectors

Dow Jones11-18

MW GameStop appoints Nat Turner to board, tightens links with Collectors

By James Rogers

Collectors Holdings CEO Nat Turner has joined the board of video game retailer and original meme stock GameStop.

GameStop Corp. has appointed Nat Turner to the company's board, tightening the videogame retailer and original meme stock's links to collectibles authentication and management specialist Collectors Holdings Inc.

Last month GameStop $(GME)$ announced a collaboration with Collectors' Professional Sports Authenticator division, which offers trading card and autograph authentication and grading services. GameStop has become an authorized PSA dealer and PSA is providing authentication and grading services through select GameStop stores across the U.S.

Related: GameStop's stock continues its rise, registering longest winning streak in four months

GameStop shares are up 0.9% in premarket trades. The stock is up 51.7% in 2024. Earlier this month the stock registered its longest winning streak in four months, despite no announcements from the company.

In May, GameStop's stock soared after the return of influential trader Keith Gill, also known as Roaring Kitty, to social media. Gill, a pivotal figure in the 2021 meme-stock frenzy, subsequently increased his stake in GameStop, sending shares skyrocketing again. The trader also voiced his support for GameStop Chief Executive Ryan Cohen in his first livestream since 2021 on June 7.

Related: GameStop CEO Ryan Cohen is happy about Trump's victory. The stock is climbing.

The Grapevine, Texas-based company reported a profit in its second-quarter results in September, although its sales fell more than 30% from a year ago. GameStop also disclosed an at-the-market stock offering of up to 20 million shares after reporting its second-quarter results.

-James Rogers

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November 18, 2024 08:16 ET (13:16 GMT)

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GameStop appoints Nat Turner to board, tightens links with Collectors

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