GameStop is trading at $24.84, 4.52% up in early trading on September 30, with momentum led by CEO Ryan Cohen’s latest stock purchase.
- On September 29, Cohen bought 450,000 shares for about $10.6 million.
- A Reuters-sourced report said the purchase and repeated insider buying were the dominant force behind recent momentum; it described a 1.6% pre-open gain.
- Broad indices were only modestly higher, pointing to company-specific buying as the main explanation.