GameStop CEO Ryan Cohen acquired 1 million shares of GameStop Class A common stock on September 10, 2026, for approximately $20.38 million. The shares were purchased at a weighted average price of $20.3759, with prices ranging from $20.0199 to $20.4699 per share. This transaction increased Cohen's direct ownership to 39,347,842 shares and raised total insider ownership of GameStop to 9%.
This significant insider purchase follows strong second-quarter 2026 results for GameStop, which reported a 77% jump in net income and the highest second-quarter operating income in its history at $160.2 million. The company's strategy to emphasize trading cards and collectibles is paying off, with collectibles sales surging 57% year-over-year to $356.3 million and representing 45.1% of total quarterly sales. GameStop also raised its fiscal 2026 adjusted EBITDA outlook to over $650 million.
Cohen's latest acquisition, which follows previous purchases of 500,000 shares in April 2025 and 1 million shares in January 2026, reinforces his commitment to the company. His total stake, including shares from warrants, now stands at approximately 43.08 million shares. This move is seen as a bullish signal by some analysts, though others caution that insider purchases are just one factor and do not guarantee future share price performance. GameStop ended the quarter with $5.4 billion in cash and an investment in eBay valued at $4.9 billion.
Despite the positive signals from Cohen's purchase and the company's improved financial performance, Wall Street's reaction has been muted. GameStop's stock has seen a 10.0% increase over one week and 12.4% over one month, but it is still down 14.9% over one year and 55.6% over five years. The current market capitalization of GameStop is around $10 billion, and Cohen's compensation package includes performance-based milestones, such as achieving a market capitalization of $100 billion, which would require a significant increase from current levels.
