GameStop Chairman Ryan Cohen Boosts Stake to 9.2% with $10.5M Purchase
GameStop shares surged 3.7%-4% in after-hours trading after Chairman Ryan Cohen acquired 500,000 additional shares at a weighted average price of $21.12, totaling $10.56 million. The purchase elevates Cohen's stake to 9.2% of the company—41.6 million shares—marking his latest bet on the meme-stock darling.
Cohen has now invested $117.4 million of personal capital into GameStop over time. The MOVE follows his recent performance-based stock option award tied to ambitious vesting targets: 171.5 million shares contingent on a $100 billion market cap.
Market reaction was immediate, with the stock climbing on heavy retail investor interest. Cohen's continued accumulation signals confidence in GameStop's turnaround strategy despite ongoing volatility in meme equities.
