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GameStop CEO Ryan Cohen buys $10.6 million of GME shares on Sept. 29

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Regulatory filings show GameStop CEO Ryan Cohen bought an additional 450,000 shares ($10.6m), his third sizable purchase in less than a month, while a director also added shares. The insider buying may support confidence in the turnaround narrative, but the company's longer-term equity drawdown and the failed eBay bid highlight continued strategic and execution uncertainty. Near-term impact is primarily idiosyncratic to GME.
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GameStop CEO Ryan Cohen bought 450,000 shares on Sept. 29 for about $10.6 million, lifting his stake to about 40.9 million shares, or roughly 8% of the company. He previously purchased $20.4 million of stock on Sept. 10 and another $26.3 million on Sept. 21. Board director Nat Turner also bought 10,462 shares. The insider buying comes as GameStop shares are down 10% over the past 12 months and 44% over five years, and after eBay rejected a $56 billion takeover offer from GameStop.