Popular meme stock GameStop (GME) is once again grabbing investor attention after the company delivered a strong second-quarter earnings report on Sept. 8, reigniting enthusiasm around the video game retailer. That’s notable given GameStop has been fighting a shrinking core business, with sales declining in each of the past four fiscal years. According to the latest earnings report, collectibles have now emerged as GameStop’s dominant revenue line, while gross margin nearly doubled from the prior year.
Management also raised its fiscal 2026 adjusted EBITDA guidance, adding further fuel to the bullish sentiment. But the earnings report wasn’t the only thing that caught investors’ eyes. On the same day GameStop released its results, one of its directors made a sizable bet on the company’s stock. Director Lawrence Cheng purchased 55,000 Class A common shares worth around $1.03 million. In fact, Cheng wasn’t the only insider buying.
