GameStop, which has seen its stock drop about 55% in the past six months, trumpeted the growth of PowerUp Rewards Pro year-over-year to 5.8 million members for the three-month period that ended Jan. GameStop’s fiscal 2021 fourth-quarter and yearly earnings were highlighted by a 32% year-over-year growth in its subscription-based membership program, PowerUp Rewards Pro. Related: GameStop Membership Rewards Up, But Stock Down as Investors Question Future GameStop reported a loss in its most recent quarterly earnings call last week, but boasted a better-than-expected $2.25 billion in revenue. Shares peaked at $350 last year before steadily dipping to as low as $78.11 when investors were concerned about the company’s performance in the last three months of 2021. GameStop’s stock has been on a roller-coaster ride since early last year, when it was part of a social-media-fueled trading frenzy. GameStop named Amazon alum Matt Furlong its chief executive in June. He joined the company’s board in January 2021 and became chairman in June. In late 2020, Cohen - who co-founded Chewy - criticized GameStop for its lackluster efforts to move into eCommerce. “I put my money where my mouth is,” Cohen tweeted as word of the investment continued to spread. Cohen now owns 9.1 million GameStop shares, or 11.9% of the company, according to a Tuesday (March 22) report in The Wall Street Journal. RC Ventures LLC paid between $96.81 and $108.82 for the shares it purchased. Video game retailer GameStop Corp.’s shares are up 12% early Wednesday (March 23) after surging more than 30% Tuesday, in part because Chairman Ryan Cohen said he had purchased 100,000 shares of the company’s stock Tuesday (March 22).
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