AI Summary

GameStop CEO Ryan Cohen purchased over 1.1 million shares of GameStop stock for more than $26.4 million, bringing his total holding to over 40 million shares at roughly $23 per share. The SEC filing revealing the trade on September 21 triggered a more than 3 % rise in GameStop’s share price. This purchase follows an earlier acquisition of 1 million shares earlier in September when the stock was lower, and several GameStop directors also bought shares this month. The filings give no explanation for the purchases, though such insider buying is often viewed as a bullish signal from management.

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