GameStop CEO Ryan Cohen Endorses Trump On X, Shocks Social Media

Posted: July 17, 2024

GameStop Corp. Chief Executive Ryan Cohen has publicly endorsed Republican presidential nominee Donald Trump following the attempted assassination on Saturday. This endorsement places Cohen alongside prominent figures like Tesla Inc. CEO Elon Musk and billionaire hedge fund manager Bill Ackman, who have also shown their support for Trump.

Cohen’s endorsement sparked significant reactions on social media. Users expressed a range of emotions, from enthusiasm to disapproval. One user, @CensoredMen, wrote, “Damn, even Ryan’s endorsing Trump,” while @aroflip commented, “If RC is in then I’m in!” Another user, @DRR4G3, exclaimed, “F— YEAH RYAN COHEN!!!”

However, not everyone was pleased with Cohen’s decision. User @november_skies argued, “CEOs should stay out of politics, especially when they should want to garner loyalty and support from across the political spectrum — not lose half their base of supporters.”

Cohen made his endorsement public on Saturday, shortly after Musk also expressed his support for Trump and wished him a swift recovery following the failed assassination attempt at a campaign rally in Butler, Pennsylvania. Ackman also endorsed Trump on the same day, mentioning that he had come to this decision some time ago, a sentiment reflected in his previous supportive posts about Trump and criticisms of President Biden.

Cohen’s endorsement post on X, formerly known as Twitter, was viewed over 2 million times, showcasing his influence on the platform where he has more than 432,000 followers.

Ryan Cohen, co-founder and former CEO of Chewy Inc., was appointed CEO of GameStop in September 2023. His tenure marks a significant phase in his efforts to revitalize the videogame retailer, which gained fame as a meme stock. In December, GameStop’s board of directors approved a new investment policy allowing the company to invest in equity securities, with Cohen given the authority to manage the investment portfolio.

Cohen has previously made headlines for his sharp criticisms of corporate America, notably during GameStop’s annual shareholder meeting last year. Under his leadership, GameStop shares ended Monday’s session up 3.7%, outperforming the S&P 500 index, which gained 0.3%.

This move by Cohen, along with similar endorsements from other high-profile business leaders, has added to the ongoing political discourse surrounding Trump and his campaign.