GameStop jumps after CEO Ryan Cohen buys another 500,000 shares

Shares of video game and collectibles retailer GameStop GME.N jump 6% to over 1-mth high of $23 on Thurs after CEO Ryan Cohen increased his stake again

Cohen on Weds bought 500,000 shares in a series of transactions at an avg weighted price of about $21.60 for total value of about $10.8 mln, according to a regulatory filing

That's in addition to a purchase of 500,000 shares Cohen made on Tues and brings his ownership to roughly 8.5% of GME's ~448 mln shares outstanding

The embattled firm earlier this month unveiled a performance-based compensation plan for Cohen worth ~$35 bln, which included a package, if approved, that would grant him options to buy more than 171.5 mln GME shares

With the move on Thurs, GME shares up about 15% to begin 2026. They shed 36% last year