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A pedestrian walks by a GameStop store.
Justin Sullivan/Getty Images
GameStop
,
the videogame retailer, named a new chief operating officer on Monday and the stock was rising in premarket trading.
Nir Patel will take up the role of operating chief starting May 31, replacing Jenna Owens, the former chief operating officer, who left the company in October just seven months after being appointed.
Most recently, Patel was chief executive officer of Belk, a privately owned national retailer. In his two decades of experience in operations and retail, he also held senior roles at
Kohl’s
(ticker: KSS) and
Lands’ End
(LE).
GameStop (
GME
) shares were up 0.8% to $99.13 in premarket trading, poised to extend their nearly 10% gain from Friday’s close. Meme stocks like GameStop ended last week on a high note after a series of volatile trading sessions. After moving downward in tandem with the market for a better half of the week, GameStop shares bifurcated from the market, spiking unexpectedly on Thursday.
Despite the gains, the stock is still far from its 2021 closing high of $347.51, and is down 33% this year.
Write to Sabrina Escobar at sabrina.escobar@barrons.com
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