Why is GameStop stock climbing today?

GameStop's stock prices soared by 1.6% during early trading due to news of CEO Ryan Cohen's recent acquisition of 450,000 Class A shares on September 29, 2026. This investment, valued at approximately $10.6 million, significantly increased Cohen's direct ownership of the company to nearly 41 million shares. The news was announced alongside Amendment No. 18 to a Schedule 13D, which revealed Cohen's total beneficial ownership rose to 44,683,306 shares, or roughly 8.8% of the company's outstanding stock.

Cohen's recent purchases continued a pattern of increasing insider buying. Over the past year, Cohen had purchased over 3.6 million shares without selling any, demonstrating a strong commitment to GameStop's equity. This insider buying, coupled with GameStop's shift towards higher-margin sales in the collectibles sector, has been the primary driver behind the stock's recent surge.

The broader market, represented by the major U.S. indices, provided a neutral-to-supportive environment for the GME stock move.