GameStop CEO Ryan Cohen bought roughly 1.1 million shares for $26 million, sending the video game retailer's stock up about 4% on Tuesday. The purchase comes as GameStop shares have surged 30% over the past month, recovering after the company wiped out $1.4 billion in debt by paying off its bondholders with stock instead of cash. GameStop also saw its profits rise in its last quarter, boosted in part by its stake in eBay. Earlier this year, the company made an unsolicited $56 billion bid to purchase eBay, a move that was later rejected by the online marketplace.
GameStop Corp.CEO Ryan Cohen bought ~1.1 million shares for $26 million, a bullish insider purchase.
eBay Inc