From 24/7 Wall St. · David Moadel · · 50s
Ryan Cohen Buys GameStop Shares
Ryan Cohen's GameStop purchase pushes stock up 4%.
In brief
Ryan Cohen's GameStop purchase pushes stock up 4%. Ryan Cohen bought 1.15 million more GameStop shares at a higher price, lifting the stock 4%. Originally reported by 24/7 Wall St..
What Happened
Ryan Cohen bought 1.15 million more shares of GameStop.
Who It Affected
GameStop stock rose 4% in Tuesday morning trading.
When and Where
Cohen purchased shares on Monday at $22.9375.
Why It Happened
Cohen bought shares at a higher price than his previous purchase.
What People Say
The market treats insider buying as a floor, not a catalyst.
What Happens Next
GameStop must show operating results to boost stock further.
The Next Step
Traders watch for stock to hold gain or eBay deal updates.
The essence
Ryan Cohen bought 1.15 million more GameStop shares at a higher price, lifting the stock 4%.
