GameStop shares surge as Ryan Cohen buys more stock
Cohen owns an 11.9% stake in the retailer, or 9.1 million shares
FOX Business Flash top headlines for March 22
Here are your FOX Business Flash top headlines for March 22.
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 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.