GameStop jumps after CEO Ryan Cohen reveals buying another $26 mln of stock

GameStop

22/09/2026 15:43

** Video game retailer GameStop's GME.N shares up 4.3% at $23.73, an over four-month high on Tues, as Ryan Cohen continues to buy stock
** Cohen on Mon purchased ~1.15 mln shares in series of transactions at avg weighted price of about $22.95 worth roughly $26.4 mln, according to an SEC filing
** Earlier this month, GME's president, CEO and chairman disclosed buying 1 mln shares
** Latest purchase increases his direct stake to about 40.5 mln shares; including about 3.7 mln shares underlying warrants, Cohen owns roughly 8.7% stake
** GME, one of the original meme stocks, has been pursuing a high-profile takeover of the much larger eBay EBAY.O; on Sept 8, GME said it held approx 43.4 mln EBAY shares valued at approx $4.9 bln as of Aug 1
** With move on Tues, GME stock up 18% YTD, including surge of 29% MTD; stock on track for steepest monthly gain since Nov 2024

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))