GameStop shares surge as Ryan Cohen buys more stock

Cohen owns an 11.9% stake in the retailer, or 9.1 million shares

GameStop shares are getting a big boost after its chairman bought more stock. 

Shares rose another 11% in pre-market trading, following the extended session that saw a surge of more than 30%.

Ryan Cohen

Ryan Cohen joined GameStop's board in January 2021 after RC Ventures amassed a 13% stake in the video game retailer. In June 2021, he was elected as GameStop's board chairman.  (Wikipedia Commons / Getty Images CC BY-SA 2.0 )

The videogame retailer’s chairman, Ryan Cohen, disclosed his firm bought 100,000 shares of the company’s stock on Tuesday.

Ticker Security Last Change Change %
GME GAMESTOP CORP. 121.94 -0.91 -0.74%

Cohen made the purchase through his firm RC Ventures LLC.

Cohen owns an 11.9% stake in the retailer, or 9.1 million shares.

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Cohen responded with a tweet on Tuesday night.

Last year, GameStop shares were in focus when they were targeted by a months- long, social media-fueled trading frenzy. Shares peaked at that time around $350.

Ticker Security Last Change Change %
BBBY BED BATH & BEYOND INC. 4.97 -0.02 -0.40%

Cohen revealed a stake in Bed, Bath & Beyond and pushed for a turnaround.