Ryan Cohen, the Executive Chairman of GameStop, has made a substantial investment by purchasing 443,842 shares of GameStop
Billionaire Ryan Cohen's latest investment of an additional $10 million in GameStop shares has propelled the company's stock to skyrocket.
GameStop shares have been on an upward trajectory for the third consecutive session, rebounding after a significant sell-off following the company's previous earnings report.
According to a recent filing with the Securities and Exchange Commission, Ryan Cohen, the Executive Chairman of GameStop (GME), seized the opportunity presented by the post-earnings selloff and purchased $10 million worth of GameStop Corp. shares. The filing, a Form 4, reveals that Cohen acquired 443,842 shares on Friday at prices ranging from $21.61 to $23.39. These shares were purchased through RC Ventures LLC, bringing Cohen's total ownership to over 36.8 million GameStop shares.
This move by Cohen followed a substantial decline in GameStop's stock, which plummeted nearly 18% during Thursday's trading session in response to the company's latest earnings report. The report brought about additional uncertainty, including the news of Matthew Furlong's termination from the CEO position, along with a lack of comprehensive commentary on business trends.
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