Ryan Cohen paid about 11% more per share for his second GameStop buy of October
Ryan Cohen bought 844,130 GameStop shares for about $22.8 million, lifting his stake to 9.1%, a regulatory filing showed. It is the larger of his two October lots, bought at prices just under the $27.22 close near the stock's 52-week high.
The Investor · Invest desk
Cohen's second October lot had an implied average price of about $27.01 a share. His October 2 lot of 700,000 shares had a weighted average of approximately $24.41 a share. GME closed regular trading at $27.22, near its 52-week highs, per Crypto Briefing, a disputed figure.
| Figure | Value | Note | Claim |
|---|---|---|---|
| Second October lot, implied average price, about | $27.01 a share | 12 | |
| October 2 lot, weighted average, approximately | $24.41 a share | 700,000 shares bought October 2 | 2 |
| GME regular-trading close, per Crypto Briefing | $27.22 a share | disputed; close to its 52-week highs | 20 |
What happened
- His direct holding is about 42.5 million shares, and counting warrants it comes to about 46.2 million.
- His September purchases included blocks valued at more than $57 million, Crypto Briefing reported.
- Channel NewsAsia puts GameStop's earlier eBay bid at about $56 billion, roughly four times GameStop's market value.
Why it matters
- What it costs cost If the reported 3% after-hours gain holds, a third lot would start near $28 a share. Each repeat of the signal costs Cohen more than the last.
- What it limits constraint Both lots together add about 0.3 percentage points to a 9.1% position. The buying's main effect is on what the market infers from it.
- Who's exposed exposure A fall from the $27.22 close back to the $24.41 average of the Oct. 2 lot would take about $130 million off the value of his 46.2 million shares.
Next story · Product · 21h ago
Apple's A3632 Smart Folio listing hints that the next iPad mini needs a new caseConfirmed3 publishers
Across both October lots Cohen has bought 1,544,130 shares for about $39.9 million [9][10], an average of about $25.84 a share [11]. The October 2 lot averaged about $24.41 [2]. The second lot, $22.8 million over 844,130 shares [1], works out to about $27.01 a share [12], at the top of the $26.75 to $27 range reported for it [4], so most of it must have filled at or within cents of $27. That is about 10.7% more per share [13] in roughly eleven days [5].
The 9.1% figure also gives a size for the company. If it is measured on the 46.2 million shares that include warrants [3], GameStop has about 508 million shares [14] and a market value near $13.8 billion at the $27.22 close [15]. That fits the Channel NewsAsia report that GameStop's roughly $56 billion eBay bid was about four times its market value [6], since $56 billion divided by four is $14 billion [16]. The stake itself is worth about $1.26 billion [17]. Add the September blocks of more than $57 million [24] and Cohen has put roughly $97 million or more into the stock across September and October [26].
We think a filing cannot separate a purchase made because the buyer sees value from one made to show that he does. Channel NewsAsia notes that analysts generally view insider purchases as a sign that executives are confident and believe shares are undervalued [25]. Neither report includes a comment from Cohen on why he is buying or links the purchases to the eBay bid. Cohen has paid about $27 a share. A buyer who found $24.41 cheap should find $27 less cheap, yet the larger lot, $22.8 million against $17.1 million [1][2], came at the higher price. The other reading is that the purchase is itself the message. According to Crypto Briefing, GME reportedly rose about 3% after hours once the buying became public [21].
The purchases follow an acquisition attempt that met a refusal. EBay rejected the offer as "neither credible nor attractive" [7], and in August Bloomberg reported that Cohen was considering abandoning the pursuit for a partnership or joint venture [8].
Our view would change if the stock fell back toward $24.41 and Cohen bought more there. A buyer who liked $27 should like $24.41 more, and the pattern would then look like a valuation call.
What to watch
- Cohen's next SEC filing: whether a third October lot appears, and at what price against $27 and the $27.22 close.
- Whether GME holds near its 52-week high once the headline effect fades, as Crypto Briefing puts it.
- Any word from GameStop on the eBay partnership or joint venture that Bloomberg reported Cohen was weighing in August.
Information, not investment advice. This story is general information about companies and markets, drawn from cited reporting. It is not a recommendation to buy, sell or hold any security; check the cited sources before acting.
Clarity's read
What the record supports and how the coverage leans. The claims behind it follow.
Reality
- Evidence72
- Adoption
- Not scored
- Hype gap+15
- Incentives
- Not scored
- Confidence75
Claim ledger
Ranked by verification strength, evidence, and original report placement.
- [1]
GameStop CEO Ryan Cohen bought 844,130 shares for about $22.8 million, a regulatory filing showed on Tuesday, raising his total ownership to 9.1 per cent.
- [2]
On October 2 Cohen bought 700,000 shares for about $17.1 million, at a weighted average of approximately $24.41 per share.
- [3]
Cohen's direct beneficial ownership is roughly 42.5 million shares; including warrants his stake is about 46.2 million shares, around 9.1% of the company.
- [4]
Cohen bought the 844,130 shares at prices between $26.75 and $27 apiece.
- [5]
Over roughly eleven days Cohen's cost per share climbed from the mid-$24 range to as high as $27.
- [6]
GameStop sought to acquire eBay, roughly four times its market value, for about $56 billion.
- [7]
EBay rejected the offer as "neither credible nor attractive".
- [8]
In August, Bloomberg reported that Cohen was considering abandoning his pursuit of eBay and instead pursuing a partnership or joint venture with the ecommerce major.
- [9]
Shares bought across the two October lots: 1,544,130.
- [10]
Dollars spent across the two October lots: about $39.9 million.
- [11]
Blended average price across the two October lots: about $25.84 a share.
- [12]
Implied average price of the second lot: about $27.01 a share, at the top of the reported $26.75 to $27 range.
- [13]
The second lot cost about 10.7% more per share than the October 2 lot.
- [14]
A 46.2 million share stake at 9.1% implies about 508 million shares outstanding.
- [15]
Implied GameStop market value at the $27.22 close: about $13.8 billion.
- [16]
A $56 billion bid at about four times GameStop's market value implies a market value of about $14 billion.
- [17]
Value of Cohen's 46.2 million share stake at the $27.22 close: about $1.26 billion.
- [18]
The two October lots add about 0.3 percentage points of ownership.
- [19]
A fall from the $27.22 close to $24.41 would reduce the value of a 46.2 million share stake by about $130 million.
- [20]
GME closed regular trading at $27.22, close to its 52-week highs.
- [21]
GME posted a modest after-hours gain once the purchase became public; the stock reportedly rose approximately 3% following news of the latest buying.
- [22]
GameStop's shares have risen 35.6 per cent so far this year.
- [23]
A 3% gain on the $27.22 close is about $28.04 a share.
- [24]
Cohen's September purchases included blocks valued at over $57 million.
- [25]
Analysts generally view insider purchases as a sign that executives are confident in a company's prospects and believe its shares are undervalued.
- [26]
September blocks plus October purchases total about $96.9 million or more.
Sources
2 independent publishers whose own reporting we read for this story.
- channelnewsasia.comGameStop CEO Cohen buys shares worth nearly $23 million
1 article · October 13, 2026
- cryptobriefing.comGameStop CEO Ryan Cohen buys nearly $23 million in company shares
1 article · October 13, 2026
Topics and entities
Topics
- Insider Share Purchases