CEO Ryan Cohen Buys $22.8M More GME at 52-Week Highs
GME sits 56% above its 52-week low of $17.79.
Summary
Ryan Cohen bought 844,130 GME shares on October 13 for $22.8M at $26.75-$27, near the 52-week high. This follows his October 2 purchase of 700,000 shares at $24.41 and a September block over $57M. His stake now stands at 9.1% including warrants. The stock rose about 3% after hours on the news. The pattern of escalating insider buying at peak prices signals strong conviction from the CEO, who holds all three top roles.
At the time of this announcement, GME was trading at $27.72 on NYSE in the Trade & Services sector, with a market capitalization of approximately $13.7B. The 52-week trading range was $17.79 to $27.53. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Crypto Briefing.