GameStop CEO Ryan Cohen Buys $26.4 Million in Shares, Continuing Insider Purchases
On September 21, GameStop CEO Ryan Cohen purchased nearly 1.15 million shares of the company's Class A stock for approximately $26.4 million at prices ranging from $22.76 to $23.02 per share. This purchase increased his direct holdings in GameStop to 40.49 million shares, as disclosed via a Form 4 filing with the SEC. The transaction was not part of a pre-scheduled trading plan and followed Cohen's earlier insider buying on September 10 when he acquired $20.4 million worth of stock at an average price of $20.38 per share. Three GameStop directors also made purchases during that week, signaling continued confidence in the company. Cohen has been building his stake while pursuing a potential acquisition or partnership with eBay after proposing to acquire it for about $55.5 billion. Although eBay rejected the offer as unattractive, discussions are ongoing regarding an alternative collaboration involving GameStop's physical retail presence.
