GameStop's Insider Buying Spree Gains Steam as CEO Cohen Loads Up on $10.6 Million of Stock -- Barrons.com

By Mackenzie Tatananni

GameStop CEO Ryan Cohen's multimillion-dollar stock buying spree shows no signs of slowing down.

A filing with the Securities and Exchange Commission shows Cohen purchased 450,000 shares for nearly $10.6 million on Sept. 29, bringing his direct holdings to just over 40.9 million shares. That stake represents roughly 8% of GameStop's shares outstanding.

The transaction marked Cohen's third major stock purchase since the start of September. Cohen acquired $20.4 million in company shares on Sept. 10, followed by an additional $26.3 million on Sept. 21.

Cohen wasn't alone in his latest purchase. On Oct. 1, board director Nat Turner picked up 10,462 shares for $24.33 apiece, totaling $252,238.

While the CEO and GameStop have remained tight-lipped about the motivations behind his recent purchases, Cohen remarked earlier this year that it was "essential" for chief executives of public companies to buy stock with their personal funds "in order to further strengthen alignment with stockholders."

Now in his third year at the helm, Cohen has driven aggressive cost-cutting and turnaround efforts to nudge the company toward profitability. Among his most unconventional moves was adding Bitcoin to GameStop's treasury reserves, before subsequently pledging the majority of those holdings to Coinbase as collateral to execute an options income strategy.

Cohen, the co-founder of online pet retailer Chewy, first joined GameStop's board in January 2021-the same month shares hit a record intraday high of $483 during a retail investor-fueled short squeeze. He began acquiring GameStop stock in late 2020, and his purchases have consistently provided a boost to the shares, which trade heavily on sentiment and hype. Following his buys, the stock has gained an average of 7% in the following trading session, according to Dow Jones Market Data.

GameStop has outpaced the broader market this year, gaining 21% on the back of heavy insider buying. However, shares remain well below their record closing high of $86.88, set in January 2021, and have yet to revisit the peaks reached during the meme-stock craze that first sent them soaring.

Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members-so-called insiders-as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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October 02, 2026 13:43 ET (17:43 GMT)