Shares of GameStop Corp. GME, +11.96% ran up 10.7% in premarket trading Monday, putting them on track to push the videogame retailer’s market capitalization back above $10 billion, after the company said it established a new strategy committee to identify ways to accelerate its transformation. The committee will be chaired by activist investor Ryan Cohen, manager of RC Ventures LLC and co-founder of Chewy Inc. CHWY, +1.28%, and will also include Alan Attal and Kurt Wolf. Since the committee was formed, the company has appointed a chief technology officer and hired two executives to lead its e-commerce and customer care functions. GameStop stock has run up 239.3% over the past two weeks, which followed a three-week plunge of 87.5%. That selloff followed a historic surge to a record close of $347.51 on Jan. 27, as the poster child of trading frenzy engineered by Reddit’s WallStreetBets forum that targeted heavily shorted stocks. GameStop’s stock has hiked up 713.1% over the past three months through Friday, while the S&P 500 SPX, +0.28% has tacked on 3.8%.
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