GameStop is popular among millennials and is turning to e-commerce

There has been a general interest in personal finance and saving among the North American masses , largely because younger generations have had the opportunity to save during lockdown.

A survey by investment manager Nutmeg showed that less than half of young people aged 25 to 34 were better off financially than they were a year ago, while 45% were more confident about their financial situation.

This translates into more investment, with 60% of the population putting more money aside, compared to 38% of the general population.

Interest in sustainable investing has grown, but day trading has become the story of recent months. Reddit day traders sent GameStop shares soaring last month in what was widely seen as an attack on hedge funds, but it has generated widespread interest.

Low-cost retail platforms have made day trading and do-it-yourself investing more accessible to the younger generation.

Of the 2,000 respondents to the survey, 21% said they were more likely to invest and manage their investments themselves since the pandemic began. More sophisticated participants worry that people who know nothing about investing could suffer huge losses.

It’s for millennials who want ownership of their investments and the growth of sustainable investing away from passive trackers.

GameStop shares surged more than 35% after the company announced on Monday that it had hired Chewy co-founder Ryan Cohen to lead the company 's transition to e-commerce .

Cohen invested in GameStop last year as part of a push to get the video game retailer to focus on online sales and away from physical stores. His involvement in the company sparked a wild rally in the stock earlier this year. So far in 2021, GameStop's stock price has soared 970%, giving the company a market value of $14.2 billion .

The board has already named a chief technology officer, hired two executives to lead customer service and e-commerce, and started a search for a new chief financial officer with technology or e-commerce experience.

The new committee also appointed Attal as chairman of the board's nominating and corporate governance committee and Wolf as chairman of the board's compensation committee. The special committee's responsibilities include evaluating GameStop's operating objectives , capital structure and allocation priorities , digital capabilities , organizational capabilities and personnel.

GameStop

Millennials

E-commerce