GameStop shares surge to 52‑week high as CEO Ryan Cohen ramps up insider buying
+1 new source since this summary was written
GameStop (GME) stock climbed to a new 52‑week high after CEO Ryan Cohen bought additional shares in two open‑market blocks. Cohen purchased 844,130 shares—67,130 at $26.75 and 777,000 at $27.00—bringing his total stake to about 42.49 million shares, roughly 9.1% of the company. The buying spurred after‑hours gains of roughly 2½%, and analyst Dan Ives opened coverage with an outperform rating and a $32 price target.
Why it matters
The insider purchases lifted the share price to its highest level in over a year, creating short‑term upside for traders. Dan Ives’ coverage upgrade and $32 target may attract additional buying from investors who follow his recommendations.
Key facts
- 1Cohen bought 844,130 shares in two blocks: 67,130 at $26.75 and 777,000 at $27.00. investing.com
- 2The purchases raised Cohen’s total direct ownership to about 42.49 million shares, or roughly 9.1% of GameStop. investing.com
- 3GameStop shares rose about 2.5% in after‑hours trading. investing.com
- 4The stock reached a 52‑week high of $27.80. benzinga.com
- 5Analyst Dan Ives initiated coverage with an outperform rating and a $32 price target. investing.com
Open questions
- Materials report different 52‑week high levels: $27.02, $27.33, and $27.80.
Summary written by AlphAI AI Desk from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.