CNBC host Jim Cramer has taken a dig at Ryan Cohen after the GameStop Corp. (NYSE:GME) chairman raised his stake in the videogame retailer on Tuesday.
What Happened: Cramer took to Twitter, asking Cohen to take GameStop as well as Bed Bath & Beyond Inc. (NASDAQ:BBBY) private and “create joy.”
memo to Ryan Cohen: just take BBBY and GME private already..Create joy!!!!
— Jim Cramer (@jimcramer) March 22, 2022
In early March, Cohen acquired a 9.8% stake in Bed Bath & Beyond and urged the retailer to explore strategic alternatives that include separating the Buybuy Baby chain and a full sale of the company.
Cramer also responded to a tweet that said online pet supplies retailer Chewy Inc. (NYSE:CHWY) — co-founded by Cohen — would not exist without family money and that Cohen was not “the miracle some hoped.”
here's a guy who wants to share the hate with me. Welcome aboard RW! https://t.co/L9P8vMjz9F
— Jim Cramer (@jimcramer) March 23, 2022
See Also: Chewy, GameStop, Bed Bath & Beyond: How Have Ryan Cohen's E-Commerce Bets Performed?
Why It Matters: Cohen has been vocal about closing underperforming stores and moving the videogame retailer into more e-commerce growth initiatives.
GameStop — a darling of the Reddit investor forum r/WallStreetBets and one of the most heavily shorted stocks last year — continues to see high interest from retail investors.
Cramer has frequently clashed with the WSB community, which is best-known for the short squeezes conducted in stocks like GameStop and AMC Entertainment Holdings Inc. (NYSE:AMC) last year.
In June last year, Cramer told the WSB forum to remain focused on AMC and GameStop, as “too much money” was being lost on other stonks — stocks that are favored by retail investors.
Price Action: GameStop shares closed 30.7% higher in Tuesday’s regular trading session at $123.14 and further rose 16.3% in the after-hours session to $143.20.
Read Next: Meme Stocks Are Running Up In After-Hours Trading As GameStop, Koss Continue Surge
Photo: Courtesy of Bill Jerome via Flickr
