GameStop CEO Ryan Cohen buys US$26.4m in GameStop shares
GameStop chief executive Ryan Cohen has bought more than 1.1 million GameStop shares for more than US$26.4 million.
The purchase was disclosed in a regulatory filing on 21 September and reported on 22 September. GameStop shares rose more than 3% after the disclosure. GameSpot
The filing lists 1,150,680 shares of Class A common stock, the ordinary shares that carry voting rights, at an average price of US$22.9375 each, or about US$23. Cohen signed the Statement of Changes in Beneficial Ownership, the SEC Form 4 that company insiders file to record buying or selling, on 21 September 2026. SEC filing
After the deal, Cohen holds more than 40 million shares. That is about 9% of GameStop. He remains one of the company's largest individual shareholders, but well short of majority control.
It is his second million-share purchase in September. Earlier in the month he bought 1,000,000 shares for roughly US$20.37 million. That earlier lot carried a weighted average price of about US$20 each, lower than the latest average.
A weighted average is used when shares are bought in batches at slightly different prices. It blends those prices into a single figure. On that basis, the latest purchase cost about US$3 more per share than the earlier one.
The buying comes while GameStop's US$56 billion unsolicited bid for eBay remains unresolved. An unsolicited bid is an offer made without the target board's agreement. Filings record that eBay rejected the offer.
In August, Cohen was reported to be weighing withdrawal of that bid. The alternative under discussion was a partnership or joint venture in favour of a full takeover, according to reports citing the talks. That arrangement would let eBay draw on GameStop's roughly 1,600 US retail locations for distribution and returns. Reuters
Cohen has said publicly, "we're coming for eBay one way or another." He declined to say whether he planned to raise the US$56 billion offer.
What makes this stand out is the pace. Two purchases above a million shares in the same month. For shoppers and casual investors alike, the chief executive is adding to his own holding rather than selling.
