GameStop shares gain as CEO Ryan Cohen buys more stock
GameStop's shares surged over 2.5% in after-hours trading on Tuesday after CEO Ryan Cohen bought more company stock. The acquisitions included 844,130 shares at an average price of $26.87 each, increasing Cohen's personal stake to 9.1% of the company. This marks several purchases lately, including 700,000 shares in October and 450,000 shares in September.
GameStop's shares have climbed about 26% over the past month and 32% year-to-date. Analyst Dan Ives, in a recent note, rated GameStop as an "outperform" with a price target of $32.00, citing the company's pivot towards collectibles and capital allocation.
Written by urgent.news from Investing.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
