GameStop Shares Plummet After CEO Outlines Conservative Strategy

Ryan Cohen emphasizes cost-cutting and smaller store network, leaving investors uncertain about future growth plans.

GameStop stock dropped up to 17% following a shareholder meeting that offered few strategic details.
CEO Ryan Cohen focused on reducing costs and maintaining a strong balance sheet rather than hyping the stock.
The company plans to operate a smaller number of stores, aiming for higher value and profitability.
Keith Gill, known as Roaring Kitty, has reignited interest in GameStop, but recent meetings have not capitalized on this momentum.
Technical issues delayed the initial shareholder meeting, adding to investor frustration.