GameStop (GME) CEO Ryan Cohen said that he has a bold plan to change the company’s future, which sparked a small rally in its stock. GameStop’s stock is a notorious meme stock, known for its numerous price rallies in the last five years. Shares have cooled under the $35 mark since January 2025, and have continued to decline as the company pushed toward crypto last March.

In an interview with The Wall Street Journal, CEO Cohen said that he wants to grow GameStop from an $11 billion company into one worth more than $100 billion. To do so, Cohen is looking at making a large acquisition of a publicly traded company, likely in the consumer or retail space. This is a major shift from the meme-like surge that previously kept GME on the map in the early 2020s. With that trend behind it and gaming shifting to a digital world, Ryan Cohen appears ready to create a new identity for GameStop.

Any deal will be “big,” the 40-year-old billionaire said. “It’s ultimately either going to be genius or totally, totally foolish.” Furthermore, Cohen has been buying up more GameStop shares, including as recently as this month. He now has a stake of over 9% and remains the biggest individual shareholder in the business. Earlier this month, GameStop’s board of directors adjusted Cohen’s compensation package to give him extra incentive to boost the company’s market value and profitability. He stands to make as much as $35 billion in stock if certain criteria are met.

Part of the award starts vesting if GameStop’s market value reaches $20 billion and a measure of earnings before interest, taxes, depreciation and amortization reaches $2 billion. To get the full award, GameStop’s market value must reach $100 billion and the Ebitda measure must reach $10 billion.

GameStop GME rose 4% on Friday, and is now up over 14% YTD.