GameStop CEO Cohen buys shares worth nearly $23 million
Oct 13 : GameStop CEO Ryan Cohen bought about $22.8 million worth of the videogame retailer's shares, a regulatory filing showed on Tuesday, raising his total ownership to 9.1 per cent.
- Cohen bought 844,130 shares between $26.75 and $27 apiece, increasing his stake to 46.2 million shares
- This marks Cohen's second purchase of GameStop stock this month. He bought $17.1 million worth of shares, according to an SEC filing on October 2
CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less • Analysts generally view insider purchases as a sign that executives are confident in a company's prospects and believe its shares are undervalued • Earlier this year, GameStop sought to acquire eBay, roughly four times its market value, for about $56 billion. EBay rejected the offer as "neither credible nor attractive" • In August, Bloomberg news reported that Cohen was considering abandoning his pursuit of eBay and instead pursuing a partnership or joint venture with the ecommerce major • GameStop's shares have risen 35.6 per cent so far this year
- Analysts generally view insider purchases as a sign that executives are confident in a company's prospects and believe its shares are undervalued
- Earlier this year, GameStop sought to acquire eBay, roughly four times its market value, for about $56 billion. EBay rejected the offer as "neither credible nor attractive"
- In August, Bloomberg news reported that Cohen was considering abandoning his pursuit of eBay and instead pursuing a partnership or joint venture with the ecommerce major
- GameStop's shares have risen 35.6 per cent so far this year
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