New York, Jan 22, 2026, 08:33 (EST)
- A filing revealed Cohen purchased 500,000 GameStop shares on Jan. 21, paying roughly $21.60 each
- The purchase came after a similar one the day before, pushing his stake up to roughly 9.3%
- GameStop shares climbed in premarket following the disclosures
GameStop (GME) shares climbed in premarket action Thursday following CEO Ryan Cohen’s purchase of an additional 500,000 shares, a regulatory filing revealed. His stake in the videogame retailer now stands at roughly 9.3%.
The consecutive purchases have thrust Cohen’s personal stake back into focus at a company still working to persuade investors that its turnaround extends beyond just trimming expenses.
GameStop became the face of the 2021 meme-stock surge that also roped in AMC Entertainment, and its shares continue to spark waves of retail interest.
In a revised Schedule 13D filing with the U.S. Securities and Exchange Commission — which is mandatory when a shareholder crosses the 5% threshold or makes a significant move — Cohen disclosed purchasing 500,000 shares on Jan. 21. The shares traded at a weighted average price of $21.6010. 1
The filing revealed he bought shares in several trades, ranging from $21.5479 to $21.6100.
Following the acquisition, Cohen disclosed beneficial ownership of 42,082,626 shares. This total includes 3,734,784 shares tied to warrants — securities convertible into stock — representing a 9.3% stake.
Cohen also argued that any CEO who doesn’t purchase shares on the open market using personal money “should be fired.”
An earlier Schedule 13D filing from Jan. 20 revealed Cohen bought 500,000 shares at a weighted average price of $21.1174, with individual trades priced between $20.8071 and $21.1997. 2
Over the span of two days, the total purchases amount to roughly $21.4 million, based on the two weighted average prices.
GameStop’s shares climbed 3.27% to $22.39 in premarket trading Thursday, Tokenist reported. 3
Benzinga reported the stock climbed 2.6% to $21.65 in early Wednesday trading following Cohen’s initial disclosure. 4
Cohen said he bought his directly owned shares using personal funds, which might include margin loans. He valued the total purchase price for 38,347,842 shares at roughly $128.2 million, not counting brokerage commissions.
Earlier this month, GameStop unveiled a performance-based compensation package for CEO Cohen, tied to hitting a $100 billion market cap and $10 billion in cumulative EBITDA—earnings before interest, taxes, depreciation, and amortization. Reuters noted the plan mirrors Tesla CEO Elon Musk’s pay structure. 5
However, the buying spree doesn’t alter the core risks for GameStop. It remains heavily dependent on physical stores even as gamers increasingly turn to online purchases. Plus, the stock’s volatility means it can swing sharply both ways.
