GameStop (NYSE: GME) has recorded a fresh wave of high-profile insider buying, a move likely to sustain the bullish momentum around the stock seen in the early days of 2026.
Year-to-date, GME shares are up more than 11%, trading at around $22 as of press time. Over the past year, however, the stock has plunged nearly 15%.
Recent SEC filings show that top executives and board members have collectively committed tens of millions of dollars to GameStop shares.
The most significant activity came from Ryan Cohen, GameStop’s President, Chief Executive Officer, and Chairman, who disclosed the purchase of a combined 1 million shares across two consecutive trading days.
On January 20, Cohen acquired 500,000 shares at a weighted average price of $21.12, representing an investment of roughly $10.56 million. He followed up the next day with another 500,000 shares at an average price of $21.60, adding approximately $10.80 million more.
In total, Cohen deployed about $21.36 million into GameStop stock, materially increasing his exposure as shares hovered near multi-month lows.
Alongside Cohen’s purchases, board director Alain Attal reported the acquisition of 12,000 shares of GameStop Class A common stock on January 21 at an average price of $21.6314 per share.
The transaction brought Attal’s total beneficial ownership to 596,464 shares, according to the filing. While smaller in dollar terms than Cohen’s trades, the purchase is notable as it reflects buying from another senior insider rather than a single isolated bet.
Impact on GME stock price
These insider moves come as GameStop shares trade in the low-$20s. The stock remains volatile and heavily influenced by retail sentiment, but fundamentals have stabilized compared with prior years.
In this case, the company has aggressively cut costs, closed underperforming stores, and maintained a sizable cash position, even as revenue trends remain under pressure.
Historically, clusters of insider buying are often interpreted by the market as a bullish signal. Such transactions suggest that those with the deepest insight into the company’s strategy, balance sheet, and near-term prospects believe the stock is undervalued.
In GameStop’s case, the scale of Cohen’s purchases, combined with Attal’s buy, strengthens that narrative and may help reinforce a perceived price floor around the $21 level.
In the near term, the insider buying is likely to provide psychological support for the shares, potentially attracting speculative and momentum-driven investors who view insider conviction as a catalyst.
While it does not eliminate the company’s structural challenges, the buying pressure could reduce downside volatility and contribute to upward price momentum if broader market conditions remain stable.
Featured image via Shutterstock
