Why Is GME Stock Surging Premarket? Chairman Ryan Cohen Raises Stake

GameStop Corp. (NYSE: GME) stock is experiencing a significant surge in premarket trading on Thursday, January 22, 2026, following news that Chairman and CEO Ryan Cohen has substantially increased his stake in the video game retailer. The stock was trading at $22.39 in premarket, up $0.71 or 3.27% as of 5:28 AM EST, building on Wednesday’s 2.80% gain when shares closed at $21.69.

This latest rally comes after Cohen disclosed his second major share purchase in two consecutive days, signaling strong confidence in the company’s future.

Cohen’s Bold Share Purchases Signal Strong Confidence

According to SEC filings, Ryan Cohen purchased 500,000 GameStop shares on January 21, 2026, at a weighted average price of $21.60 per share, with transactions ranging from $21.5479 to $21.6100. This purchase, valued at approximately $10.8 million, follows an identical 500,000-share acquisition on January 20 for roughly $10.6 million. The back-to-back purchases demonstrate Cohen’s commitment to aligning his interests with shareholders, with all transactions conducted in the open market using personal funds.

Following these purchases, Cohen now owns 42,082,626 shares of GameStop, representing approximately 9.3% of the company’s outstanding shares, up from 9.2% just days earlier. His total holdings include 38.3 million directly owned shares and 3.7 million shares underlying warrants received through a dividend distribution. Cohen’s directly owned shares now represent an investment of approximately $128.2 million, excluding brokerage commissions, and he maintains sole voting and dispositive power over all his shares.

In the regulatory filing, Cohen made a pointed statement about executive accountability, emphasizing his belief that it is essential for any public company CEO to purchase shares with personal funds to strengthen alignment with stockholders. He went further to state that any CEO who fails to do so “should be fired” or “should be terminated,” underscoring his philosophy on executive skin in the game.

Join our Telegram group and never miss a breaking digital asset story.

GameStop Shares Climb as Investors Price in Cohen’s Move

GameStop’s stock has responded positively to Cohen’s purchases, with shares up approximately 7% for the week as news of the insider buying emerged. The stock closed at $21.69 on Wednesday, January 21, after gaining 2.80% during the regular session, and extended gains to $22.39 in premarket trading on Thursday, up an additional 3.27%. The company’s market capitalization now stands at approximately $9.72 billion, with a 52-week range between $19.93 and $35.81.

The video game retailer’s recent financial metrics show a P/E ratio of 24.65 and earnings per share of $0.88. GameStop reported Q3 fiscal year 2026 revenue of $821 million, with the company maintaining a cash position of $8.83 billion as of the most recent quarter. Despite facing challenges including declining sales and ongoing store closures, Cohen’s continued investment appears to have energized investor sentiment around the specialty retailer’s transformation efforts.

Cohen’s purchases come at a time when he is poised to become even more financially tied to GameStop’s performance, as shareholders are expected to vote on a compensation package that would link his pay entirely to ambitious targets for the company’s earnings and market capitalization. This alignment structure, combined with his substantial personal investments, signals a long-term commitment to turning around the gaming retailer’s fortunes.

Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.