GameStop (GME), Insider Buying Rush...Retail Investors 'Stir'

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With GameStop (GameStop, GME) board members' consecutive purchases of company shares, and expectations of additional purchases by Ryan Cohen spreading, the interest of retail investors is heating up.

According to StockTwits on September 9 (local time), GameStop director James Grube purchased 10,255 shares of Class A common stock at $19.12 per share. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC), the purchase amount was approximately $196,000. With this transaction, Grube's directly held GameStop shares increased to 39,694.

A day before Grube's purchase, GameStop director Lawrence Cheng bought 55,000 shares. The purchase amounted to approximately $1.03 million. The consecutive purchases by the two directors occurred immediately after GameStop announced its Q2 FY2026 earnings, which exceeded market expectations.

GameStop's Q2 collectibles sales increased by 57%. Operating profit reached a record high of $160.2 million, and adjusted EBITDA more than doubled to $174 million. Cash and related assets at the end of the quarter were $5.4 billion, and the company raised its adjusted EBITDA target for 2026 to over $650 million.

The board members' purchases fueled expectations among retail investors that GameStop CEO Ryan Cohen might be the next buyer. On StockTwits, GameStop's investor sentiment rose from ‘Bullish’ to ‘Extremely Bullish’ from the previous day. The volume of related messages also increased by 151% over the past week. One user claimed, “Two insiders bought. Now it's Ryan Cohen's turn for a big purchase.”

Cohen had previously pursued a plan to acquire eBay (eBay, EBAY) for approximately $56 billion to create a strong competitor to Amazon, but eBay rejected the proposal. Cohen later stated that he remains committed to pursuing the deal. GameStop's stock price has fallen by about 1% since the beginning of the year, but the consecutive insider purchases and improved earnings are raising the expectations of retail investors.

[Article Key Summary]

-GameStop director James Grube purchased 10,255 shares for approximately $196,000, and a day earlier, Lawrence Cheng also bought 55,000 shares for approximately $1.03 million.

-GameStop's Q2 operating profit reached a record high of $160.2 million, and its adjusted EBITDA target for 2026 was raised to over $650 million.

-On StockTwits, expectations of additional purchases by Ryan Cohen spread, raising investor sentiment to ‘Extremely Bullish,’ and related message volume increased by 151% over the past week.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*