GameStop shares rise 2.13% after Ryan Cohen buys 844,130 shares

  • Ryan Cohen bought 844,130 GameStop shares for about $22.8 million.
  • The purchase lifted Cohen’s ownership to approximately 46.2 million shares, or 9.1%.
  • Cohen made another GameStop purchase worth about $17.1 million on Oct. 2.

GameStop CEO Ryan Cohen bought 844,130 shares for about $22.8 million, paying between $26.75 and $27 each, according to a regulatory filing. The purchase was his second GameStop acquisition this month after a roughly $17.1 million purchase disclosed on Oct. 2, and lifted his reported ownership to about 46.2 million shares, or 9.1%. GameStop shares have gained 35.6% this year. Earlier, the retailer sought to acquire eBay in a deal valued at about $56 billion, but eBay rejected the proposal. Bloomberg later reported that Cohen was considering replacing the acquisition effort with a partnership or joint venture. Existing coverage had detailed additional purchases, GameStop’s collectibles strategy and a proposed executive stock-option package.

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