GameStop shares surge as Ryan Cohen buys more stock
Cohen owns an 11.9% stake in the retailer, or 9.1 million shares
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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. | 24.99 | +0.32 | +1.30% |
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 | BEYOND INC. | 5.47 | +0.31 | +6.01% |
Cohen revealed a stake in Bed, Bath & Beyond and pushed for a turnaround.