Why GameStop (GME) Stock Is Trading Up Today

What Happened?

Shares of video game retailer GameStop (NYSE:GME) jumped 6.3% in the afternoon session after the stock's positive momentum continued as CEO and Chairman Ryan Cohen purchased another large block of shares, marking his second significant buy in two consecutive days. The move continued the stock's rise from the previous session. Regulatory filings revealed Cohen bought 500,000 shares at around $21.60 each, a day after purchasing another 500,000 shares at $21.12 per share. In total, Cohen spent approximately $21.4 million of his own money over the two-day period. These purchases increased his total ownership in the video game retailer to about 9.3% of the company. Investors often see such substantial insider buying as a strong vote of confidence in a company's future from its top leader.

Is now the time to buy GameStop? Access our full analysis report here, it’s free.

What Is The Market Telling Us

GameStop’s shares are very volatile and have had 21 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

GameStop is up 11.5% since the beginning of the year, but at $23.00 per share, it is still trading 34.3% below its 52-week high of $35.01 from May 2025. Investors who bought $1,000 worth of GameStop’s shares 5 years ago would now be looking at an investment worth $1,415.

Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free and will only take you a second.