GameStop rallies after CEO Ryan Cohen purchases $10.6 million in company stock
Ryan Cohen isn’t waiting for any market cap and EBITDA performance milestones to get his hands on more shares of GameStop.
The CEO boosted his stake in the video game and collectibles retailer by roughly $10.6 million on Tuesday, purchasing 500,000 shares across a series of transactions at an average weighted price close to $21.12.
Shares are up nearly 2% in premarket trading on Wednesday.
Cohen owns approximately 8.45% of shares outstanding, making him the largest individual holder of the stock and the second-largest owner, trailing only index fund provider Vanguard. His last open market purchase of GameStop was on April 3, 2025 — also for 500,000 shares at a weighted price slightly higher than Tuesday’s buys.
GameStop recently announced a long-term pay package for Cohen that would tie his remuneration completely to the company and stock’s performance. If approved, it would see the CEO receive options that allow him to buy company stock at a discount if he’s able to concurrently achieve escalating levels of cumulative EBITDA and market cap milestones.
To receive the first tranche, Cohen would need GameStop to have the bottom-line results roughly on par with any three-year stretch of the 2010s, while attaining a market cap that the company only received on a closing basis during the 2021 meme stock episode.
During his tenure atop the company, Cohen has proven adept at controlling expenses and overseeing the rapid growth of GameStop’s collectibles business, resulting in the retailer generating positive cash flow from operations for a record six consecutive quarters.
Separately, board member Alain Attal also purchased about $251,000 in company stock on Tuesday.
