GameStop Stock Rallies After-Hours — Ryan Cohen Buys 500,000 More Shares

Core Viewpoint - GameStop Corp. shares experienced a rally following CEO Ryan Cohen's significant stock purchase, indicating strong confidence in the company's future prospects [1][2]. Group 1: Stock Purchase Details - Ryan Cohen acquired an additional 500,000 shares of GameStop at a weighted average price of approximately $21.12 per share [2]. - Following this purchase, Cohen's total ownership in GameStop reached 41,582,626 shares, which includes around 3.7 million warrants, equating to a 9.2% stake in the company [2]. - Cohen has invested approximately $117.4 million of his personal funds to build this position over time [2]. Group 2: Performance and Financial Health - GameStop's board granted Cohen a stock option award that could potentially be valued at around $35 billion if the company achieves a market capitalization of $100 billion and a cumulative EBITDA of $10 billion [3]. - Since Cohen joined the board, GameStop's market capitalization has increased from $1.3 billion to $9.3 billion, reflecting a growth of approximately 600% [3]. - The company's financial health has improved significantly, transitioning from a net loss of $381.3 million in fiscal 2021 to a net income of $421.8 million over the last four fiscal quarters [4]. Group 3: Stock Price Movement - GameStop shares rose by 3.41% to $21.82 in extended trading on Tuesday, reflecting positive market sentiment following Cohen's stock purchase [4].