GameStop (GME) has had an interesting trajectory over the past few years, to say the least. In the latest significant upswing of the retailer's volatile journey, GME stock gained 5.6% intraday on Sept. 22 after CEO Ryan Cohen confirmed through a regulatory filing that he bought another 1.15 million GameStop Class A shares for $26.4 million. This buy raises Cohen’s stake to about 9%, or more than 40.4 million shares, and follows buys from directors Alain Attal, James Grube, and Lawrence Cheng.
After an extended period of closing down its brick-and-mortar stores due to cost-cutting measures and a shift in focus — a period that saw GameStop shutter hundreds of locations — the company also recently announced that it will be reopening “select” stores. While GameStop did not announce the total number of stores being reopened, it confirmed that one location in Brooklyn, Ohio, would be part of the initial rollout.
