- Ryan Cohen bought 500,000 more GME shares for $10.8 million, boosting confidence in GameStop’s future.
- GameStop is adding Bitcoin to its treasury, using $1.48 billion raised through convertible notes.
- The market reacted positively, with GME rising 3.6% after-hours, signaling renewed investor interest.
GameStop (GME) popped 3.6% after hours on Thursday, and here’s why: CEO Ryan Cohen just went in again, scooping up another 500,000 shares of the company.
That’s about $10.8 million worth of stock — bought at an average price of $21.55 per share, according to an updated 13D filing with the SEC. This new buy pushes Cohen’s total stake to over 37.3 million shares.
So yeah… not exactly a small flex.
A Bigger Bet After Bitcoin News
This comes right after GameStop dropped a bomb last week — the board voted to add Bitcoin to its treasury. Wild, right?
They also raised $1.48 billion through a Convertible Senior Notes offering (basically debt that can turn into shares later), and word is, they’re planning to buy BTC with that cash.
So Cohen doubling down now? Probably not a coincidence.
The Market Reacts: This Is a Signal
Wall Street — and retail — saw the move as a major vote of confidence. Cohen isn’t just tweeting cryptic stuff anymore… he’s putting his money where his mouth is.
After everything: meme stock mania, executive shakeups, NFT experiments… it looks like he’s still locked in for the long haul. Whether this leads to a full-on rally? We’ll see. But the vibes? Definitely shifting.
Should You Jump In? Depends Who You Ask
Retail’s buzzing, and GME is making headlines again. Some folks are asking if this is one of those undervalued plays hiding in plain sight.
Tools like InvestingPro say their AI has been scanning the stock, comparing it to thousands of others. And according to them, GME might just be one of those quiet sleepers that pops during a correction.
Could it go up 30%+ like some picks did last year? Maybe. Or maybe it’s another wild ride like the last few times GME took over everyone’s portfolio.
