GameStop jumps after CEO Ryan Cohen reveals buying another $26 mln of stock
GME•Stock performance and eBay 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 approximately 43.4 million EBAY shares valued at about $4.9 billion as of Aug. 1.
With the move on Tuesday, GME stock is up 18% year to date, including a 29% surge month to date; the stock is on track for its steepest monthly gain since November 2024.
Shares rise after Cohen’s latest stock purchases
Video game retailer GameStop's GME.N shares were up 4.3% at $23.73, an over four-month high on Tuesday, as Ryan Cohen continues to buy stock.
Cohen on Monday purchased about 1.15 million shares in a series of transactions at a volume-weighted average price of about $22.95, worth roughly $26.4 million, according to an SEC filing.
Earlier this month, GME's president, CEO and chairman disclosed buying 1 million shares.
The latest purchase increases his direct stake to about 40.5 million shares; including about 3.7 million shares underlying warrants, Cohen owns roughly an 8.7% stake.
