GameStop stock gained traction after CEO Ryan Cohen purchased 1.15 million Class A shares at an average price of $22.9375 per share.
The regulatory filing showed Cohen's direct ownership reached 40,498,522 shares, cementing his status as one of the largest individual insider shareholders among US-listed companies.
The insider buying aligns with a 30% gain in GameStop's stock price over the past month, drawing investor focus amid ongoing challenges regarding revenue trends.