GameStop stock rises 2.3 percent as Cohen buys 700,000 shares

Published on 10/03/2026 at 22:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

GameStop stock closed at USD 24.66 on October 2, 2026, after Ryan Cohen bought 700,000 shares. Q2 revenue fell 18.7 percent as operating income rose.

GME, US36467W1099, Illustration mit AI erstellt.

GameStop stock (ISIN US36467W1099) closed at USD 24.66 on the NYSE on October 2, 2026, up 2.30 percent for the session. The move followed CEO Ryan Cohen's purchase of 700,000 shares at an average USD 24.41 per share, disclosed on October 2, 2026, according to MarketBeat.

Insider buying meets weaker sales

Cohen's transaction gives the latest trading session a clear corporate signal, but the operating picture remains mixed. His direct holding reached 41,648,522 shares after the purchase, while GameStop's most recent quarter showed lower sales alongside sharply higher operating income.

In the second quarter ended August 1, 2026, net sales fell to USD 790.2 million from USD 972.2 million a year earlier, a decline of 18.7 percent. The result still included a positive mix shift: Collectibles sales grew 57 percent year over year to USD 356.3 million and represented 45.1 percent of net sales, according to GameStop in its September 8, 2026 results release.

Margins carry the earnings story

Operating income rose to USD 160.2 million from USD 66.4 million in the prior-year quarter, while gross margin expanded to 43.7 percent from 29.1 percent. Adjusted EBITDA reached USD 174.0 million, compared with USD 75.7 million one year earlier.

The contrast matters for investors: the top line contracted, yet cost control and the shift toward collectibles lifted profitability. GameStop also raised fiscal 2026 adjusted EBITDA guidance to more than USD 650 million from more than USD 600 million previously, with the fiscal year ending January 30, 2027, according to GameStop.

Stock remains below its yearly high

GameStop's USD 24.66 closing price on October 2, 2026, stood below the 52-week high of USD 26.99 and above the 52-week low of USD 17.79. Market capitalization was USD 12.4 billion on that date, placing the insider purchase against a company value that remains highly sensitive to both retail execution and investment gains.