While many of the largest American technology companies have seen substantial selling by their executives, GameStop (NYSE: GME), one of the most popular meme stock firms, witnessed its insiders move in the opposite direction in September.
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The most recent such transaction was executed and disclosed on September 29, when the billionaire CEO Ryan Cohen bought 450,000 GME shares, worth a total of $10.5 million at the average purchase price of $23.48.
Notably, GameStop’s chief executive has made multiple such trades since September 10, adding a total of 2.6 million shares worth a combined total of approximately $57 million.
Directors Lawrence Cheng, James Grube, and Alain Attal also participated in insider buying, though at a significantly smaller scale, purchasing roughly $1.7 million in GME between them.
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This signal is triggered upon the reporting of the trade to the Securities and Exchange Commission (SEC).
Meanwhile, the uptick in such trading – and reversal since all previous 2026 activity involved selling the equity – came immediately after GameStop published an unexpectedly strong second-quarter (Q2) earnings report.
GameStop stock September rally flips GME green YTD
Within the filing, the company unveiled a record-breaking operating income, strong collectibles sales, and a large-scale investment in eBay (NASDAQ: EBAY) – a company Cohen famously attempted to acquire earlier this year.
Overall, the Q2 results sparked something of a renaissance for GME stock, leading to a 25% rally to its latest closing price of $23.76. The move simultaneously flipped GameStop shares back into the green year-to-date (YTD) following two steep drops in May and August.
Simultaneously, the quarterly filing and subsequent stock market performance led to the firm’s only recent rating by a prominent market analyst.
Specifically, the former hedge fund manager and TV personality, Jim Cramer, effectively issued a ‘Buy’ rating for GameStop stock on September 17, highlighting the company’s profitability and the management’s recovery plan.
Ultimately, the Mad Money host revealed he was ‘willing to say that stock is a buy’ and concluded that GME ‘actually works’ for him.
Featured image via Shutterstock
