GameStop Stock Is Surging: What's Going On?
Portfolio Pulse from Adam Eckert
GameStop Corp (NYSE:GME) shares are trading higher after a SEC filing showed that executive chairman Ryan Cohen increased his stake in the company. Cohen bought 443,842 shares at an average price of $22.53 per share on June 9, and now RC Ventures owns a 12.1% stake in GameStop.
June 13, 2023 | 1:00 pm
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GameStop shares are trading higher after executive chairman Ryan Cohen increased his stake in the company, buying 443,842 shares at an average price of $22.53 per share.
The news of Ryan Cohen increasing his stake in GameStop has a direct impact on the stock price, as it shows confidence in the company's future. This positive sentiment is likely to drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100