GameStop CEO Ryan Cohen Buys $22.8 Million in Shares
GameStop CEO Ryan Cohen purchased 844,130 company shares for approximately $22.8 million, increasing his total ownership to 9.1 percent.
Ryan Cohen purchased approximately $22.8 million in GameStop shares on October 13, according to a regulatory filing. Cohen acquired 844,130 shares at prices ranging from $26.75 to $27 per share, bringing his total holdings to 46.2 million shares, or 9.1 percent of the company.
This transaction follows a previous $17.1 million share purchase reported on October 2. The buying spree occurs as GameStop shares have risen 35.6 percent over the course of the year.
The stock activity follows a failed attempt by GameStop to acquire eBay for approximately $56 billion earlier this year. eBay rejected the offer, describing it as "neither credible nor attractive." Reports indicate Cohen may have since shifted his strategy from a full acquisition toward pursuing a joint venture or partnership with the e-commerce company.
