GameStop Corp. Chief Executive Ryan Cohen has joined the ranks of Tesla Inc. CEO Elon Musk and billionaire hedge funder Bill Ackman in endorsing Republican presidential nominee Donald Trump in the wake of his attempted assassination on Saturday.
Cohen’s move sparked plenty of reaction on social media. “Damn, even Ryan’s endorsing Trump,” wrote @CensoredMen on X, formerly Twitter.
“If RC is in then I’m in!” wrote @aroflip.
“F— YEAH RYAN COHEN!!!” wrote @DRR4G3.
But some commenters were less impressed. “CEOs should stay out of politics, especially when they should want to garner loyalty and support from across the political spectrum — not lose half their base of supporters,” wrote @november_skies.
Cohen endorsed Trump on Saturday, just minutes after Musk threw his support behind the former president and expressed his hope for a rapid recovery following the failed assassination attempt at a Trump campaign rally in Butler, Pa.
Ackman also formally endorsed Trump on Saturday. “I came to this decision some time ago as many @X followers have already understood from my supportive posts of Trump and my criticisms of @POTUS Biden,” he wrote on X.
Cohen has more than 432,000 followers on X, and his post endorsing Trump has been viewed more than 2 million times.
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The Chewy Inc.
CHWY,
co-founder and former CEO was named GameStop’s CEO in September 2023, marking the latest chapter in his attempt to breathe life into the videogame retailer, arguably the original meme stock. In December, GameStop’s
GME,
board of directors approved a new investment policy permitting the company to invest in equity securities, among other investments. The board gave Cohen the authority to manage the investment portfolio.
From the archives (June 2024): GameStop’s stock suffers worst day since 2021 despite Roaring Kitty livestream
Last year, Cohen launched a stinging attack on corporate America during the company’s annual shareholder meeting.
GameStop shares ended Monday’s session up 3.7%, outpacing the S&P 500 index’s
SPX
gain of 0.3%.