GameStop (GME) shares pushed higher on Sept. 11 after a regulatory filing confirmed that chief executive Ryan Cohen has expanded his stake in the gaming merchandise retailer. In open-market transactions, Cohen has acquired a total of 1,000,000 company shares for roughly $20.37 million, which translates to a weighted per-share price of about $20.38, the filing revealed.
The disclosure arrives at a time when GME stock is already reclaiming some of its recent losses, currently up some 15% versus its August low.
More Top Stocks Daily: Go behind Wall Street’s hottest headlines with Barchart’s Active Investor newsletter.
www.barchart.comWhat Cohen’s Filing Really Means for GameStop Stock
Retail and institutional investors alike are treating Cohen’s decision to park more than $20 million of personal capital into GameStop stock as bullish.
Why? Primarily because it further aligns the top executive’s interests with shareholders, reinforcing his belief in the company’s potential turnaround.
Including this recent transaction, Cohen holds over 39 million shares in total — representing about an 8.5% beneficial ownership of the video game retailer.
Note that the filing arrives shortly after a separate open-market purchase by a GameStop director.
This aggressive accumulation highlights insider conviction that GME remains undervalued relative to its balance sheet and its collectibles sales trajectory.
Options Data Remains Bullish for GME Shares
Crucially, the options market believes GME shares will retain and even extend their recent gain in the weeks ahead.
According to Barchart, the put-to-call ratio on contracts expiring mid-October sits at 0.22x currently, indicating a strong bullish skew.
And the upper price on those options contracts is set at $22.79 as of this writing, signaling potential for another 8.94% rally within the next month.
Even from a technical perspective, GameStop challenged its 100-day moving average (MA) today, with an RSI in the late 60s suggesting intense buying pressure that may help drive it higher in the near-term.
Should You Invest in GameStop Today?
On the flip side, however, there’s also a major red flag on GameStop shares — a complete absence of Wall Street coverage.
This means investors lack independent analyst estimates and institutional research to accurately assess the company's valuation and long-term earnings potential.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
A $1 Billion Reason Why OKLO Stock Is Down Today JPMorgan Just Downgraded Chewy Stock. Here's Why. GME Stock Jumps as GameStop CEO Ryan Cohen Buys $20 Million Worth of Shares Cathie Wood Just Bet $45 Million on This Beaten-Down Space Stock. Wall Street Sees 70% Upside.