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Ryan Cohen Buys 1 Million GameStop Shares Over Two Days, Lifts Stake to 9.3%

The back-to-back purchases signal tighter alignment with investors ahead of a shareholder vote on a large performance-based option award.

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Overview

  • SEC filings show Cohen bought 500,000 shares on Jan. 20 at a weighted average of about $21.12 and another 500,000 on Jan. 21 at about $21.60, spending roughly $21.4 million.
  • His reported holdings now total approximately 42.08 million shares, representing about 9.3% of GameStop’s outstanding stock.
  • GameStop shares rose in after-hours and premarket trading following the disclosures, and trading volume picked up as investors reacted to the filings.
  • The board recently approved a performance-based option grant covering about 171.5 million shares at $20.66 that vests only if GameStop reaches a $100 billion market cap and $10 billion in cumulative EBITDA, subject to a shareholder vote.
  • Cohen’s filing said he views open-market buying by CEOs as essential to align with stockholders, and disclosures indicate he has invested roughly $117.4 million of personal funds into GameStop over time.