GameStop shutters hundreds of stores as CEO gambles on $35B payday

In the first weekend of 2026, many surprised GameStop customers were notified that their local stores would soon be closing down. But if GameStop is doing poorly right now, it’s not evident from the headlines currently circulating about the gaming retailer. Instead, GameStop’s company board proudly announced that it would be offering CEO Ryan Cohen up to $35 billion in performance-based stock options, with one catch. The meme stock overlord needs to raise GameStop’s market cap by billions of dollars, and ensure that its earnings are similarly explosive.