Company’s gained after GameStop announced appointing a three-member panel, headed by its board member and co-founder of online pet food retailer Chewy. The company also announced moving to online space which can be profitable for the company in the future. The company announced on March 8 that: The committee will “identify initiatives that can further accelerate the company’s transformation.”

GameStop is well known after Reddit-driven short-squeeze sent the stock to a high of $482 last month. Reddit group ‘WallStreetBets’ plotted against hedge funds who were heavily short on the stock.

Performance of GameStop’s shares (Tradingview.com)