GameStop climbs after CEO Ryan Cohen discloses 1 mln share purchase
GME•Stock performance this year
GME stock was up 1.5% year to date through Thursday, following a 36% decline in 2025.
Shares rise after Cohen boosts stake
GameStop's GME.N shares were up 4.3% at $21.27 in premarket trade on Friday after CEO Ryan Cohen increased his stake in the video game and collectibles retailer.
Cohen on Thursday bought 1 million shares in multiple transactions at an average weighted price of about $20.38, according to a regulatory filing.
Latest results showed lower quarterly sales
On Tuesday, GME reported second-quarter net sales fell year over year to $790.2 million, from $972.2 million a year ago, driven by planned store closures and divestiture of its France operations.
The company, which has been pursuing a high-profile takeover of the much larger eBay EBAY.O, said it held approximately 43.4 million eBay shares valued at about $4.9 billion as of Aug. 1.
Cohen now holds about 8.5% of shares outstanding
The purchase increased Cohen's holdings to about 39.35 million shares, a stake worth around $802 million based on the stock's last close.
Including shares underlying warrants, Cohen directly beneficially owned about 43.1 million shares, or about 8.5% of GME's roughly 504.5 million shares outstanding.
