GameStop shares rose nearly 2% in after-hours trading after CEO Ryan Cohen bought 450,000 shares on Tuesday for roughly $10.6 million, or about $23.47 each, according to a regulatory filing. The transaction followed Cohen’s purchases of 1 million shares on September 10 and 1.15 million on September 21, bringing his September total to 2.6 million shares and his spending to nearly $57 million. GameStop’s fiscal second-quarter revenue fell to $790.2 million from $972.2 million, but operating income reached a company-record $160.2 million for the quarter, net income increased to $298.7 million from $168.6 million, and collectibles revenue grew 57% year over year to $356.3 million. The company raised its fiscal 2026 adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) outlook above $650 million, up from a previous forecast above $600 million. It ended the quarter with $5.4 billion in cash, marketable securities, digital assets and related receivables, plus a $4.9 billion eBay investment. GameStop also retired about $1.4 billion of convertible notes, leaving roughly $2.8 billion in long-term debt. Investors are watching for developments on GameStop’s outstanding proposal to acquire eBay for $125 per share, while the company’s warrants are scheduled to expire on October 30 with a $32 exercise price.