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GameStop Stock Rises 2% After CEO Buys $23M in Shares
Why did GameStop stock rise 2%?
GameStop (GME) stock rose about 2% to roughly $27.7 on Wednesday after CEO Ryan Cohen bought 844,130 shares for $22.8 million, his fifth open-market purchase since September.
Key numbers
| Shares bought Oct 13 | 844,130at $26.75–$27.00 each |
|---|---|
| Cost of purchase | $22.8Mfifth buy since Sept 10 |
| Cohen stake (with warrants) | 46.2M sharesabout 9.1% of GameStop |
| Bought since Sept 10 | ~$97M4.1M shares; MoneyCheck cites over $99M |
| GME stock this year | +35.6%as of Oct 13 close, $27.22 |
What happened
GameStop (GME) stock rose about 2% to roughly $27.7 on Wednesday after CEO Ryan Cohen bought 844,130 shares for $22.8 million, his fifth open-market purchase since September. Cohen bought the shares on Tuesday at $26.75 to $27 each. A regulatory filing shows he now owns about 9.1% of the company, counting warrants (rights to buy more shares later). Since September 10, he has bought about 4.1 million shares worth roughly $97 million. The stock is up about 36% so far this year.
Why it matters
GameStop is in focus because its CEO is putting his own money into the shares, which investors often read as a sign of confidence. Cohen has spent about $97 million since September 10 and now owns about 9.1% of the company. The buying follows GameStop's unsuccessful bid for eBay, though a purchase by one insider does not guarantee the stock keeps rising.
Who this affects
- MarketbullishLow impact
- Traders watching GME see a confidence signal; mildly positive.
- CompanybullishMedium impact
- GameStop shareholders gain a CEO with more money at stake.
- CompetitorsneutralLow impact
- Little direct effect on Best Buy or other retailers.
- IndustryneutralLow impact
- No clear change for video game retailers overall.
GameStop vs Best Buy, Walmart
How we got here
Cohen buys 1 million GameStop shares at about $20.38 each, starting the run of purchases.
Cohen buys 700,000 shares at $24.41, worth about $17.1 million.
Cohen buys 844,130 shares for $22.8 million and files the purchase with the SEC.
GameStop stock rises about 2% to roughly $27.7.
What to watch
- Whether GME holds near its 52-week high of $27.53 after the latest buying.2026-10-16
- About 59 million GameStop warrants with a $32 strike price expire, per.2026-10-30
- New SEC filings showing whether Cohen keeps buying shares.Q4 2026
Educational content only. Not investment advice.
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