GameStop Insider Lawrence Cheng Is Buying GME Stock. Should You?

GameStop (GME) stock is experiencing an uptick in volume, and the share price is appreciating accordingly. As is the case with every GameStop rally, it is attracting significant retail trader interest. Fueling this sentiment further, Lawrence Cheng, a director at GameStop, added 5,000 more shares to his holding last week at a price of $22.87. He now holds 88,000 shares in the company.

The trading isn’t just limited to insiders. Michael Burry, in a Substack post early last week, disclosed he was buying the stock. Burry played down the meme-stock sentiment and instead said he was buying it as a long-term value play. He insisted that he believes in CEO Ryan Cohen, likes the governance, and believes in the strategy.