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Markets Insider

GameStop gains nearly 2% after hours as CEO Ryan Cohen buys 450,000 shares for about $10.6 million

AI Market Summary
GameStop shares moved higher after hours after CEO Ryan Cohen disclosed a $10.6M open-market purchase, extending September buys to 2.6M shares (~$57M), reinforcing insider confidence. While Q2 revenue fell, operating income and net income improved materially, and management raised FY2026 adjusted EBITDA guidance, supported by substantial liquidity and balance-sheet actions. Deal optionality around eBay and an upcoming warrant expiry add near-term event sensitivity.
Impact level
● Medium
Affected assets
NCSKGME2USD/USDT+2.49%
AI Insight · NCSKGME2USD/USDTAI Insight
▲ Bullish
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GameStop shares rose nearly 2% in after-hours trading after CEO Ryan Cohen bought 450,000 shares on Tuesday for roughly $10.6 million, paying about $23.47 each, according to a regulatory filing. The purchase brings Cohen’s total buying this month to 2.6 million shares, with close to $57 million committed. The buying comes as GameStop reported fiscal second-quarter sales of $790.2 million while operating income reached $160.2 million, the highest second-quarter figure in company history.
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