GameStop intends to pursue a significant acquisition involving a publicly traded company

Ryan Cohen, the chief of GameStop, has expressed his ambition to purchase a publicly listed company. As reported by the Wall Street Journal, Cohen aims to reach a $35 billion payment that was set in motion for him last year. This would involve elevating GameStop's market valuation to $100 billion. Currently, the company's market value is $10.68 billion, with its peak during the January 2021 stock surge reaching $33.7 billion.

Cohen described any future acquisition as potentially "big," noting it could be either "genius" or extremely "foolish." He is targeting corporations in retail or consumer sectors and has several potential candidates in mind. GameStop can leverage around $9 billion in cash and securities for such an acquisition.

"There are many undervalued companies... with uninspired leadership," Cohen said, referring to the retail industry. "The journey doesn't end with revamping GameStop."

His comments led to a 3.5% rise in GameStop's stock price this morning.

Rumors began in early 2026 about GameStop planning to shutter many of its US locations. As of now, the GSClosing blog confirms 470 closures across the nation. Previously, in 2024, 590 stores were closed in the US as the company withdrew from Ireland, Switzerland, Austria, and Germany. The firm also divested its operations in Italy and is seeking buyers for its businesses in France and Canada.

In January, additional reports emerged about GameStop's decision to close its EB Games outlets in New Zealand. The company confirmed the closure of the last 38 stores in the country.