- Cohen bought 844,130 shares at $26.75 to $27 apiece on Oct 13, worth about $22.8M, according to a filing reported Oct 13.
- This is Cohen's second GameStop purchase this month, following a $17.1M buy disclosed in an SEC filing on Oct 2.
- GameStop shares rose 1.9% in pre-open trading after the Form 4 filings were reported on the morning of Oct 14.
- Analysts generally view insider purchases as a sign that executives are confident in the company's prospects and believe its shares are undervalued.
- GameStop shares have risen 35.6% so far this year, per the Reuters report.
Quotes
“neither credible nor attractive”