In recent days, the shares of Gamestop (NYSE:GME) have experienced a surge following news that Ryan Cohen, a significant shareholder, has slightly increased his stake in the company from 11.9% to 12.1%. It is worth noting that there are other insiders at the firm who also have positive outlooks.
Two board members of Gamestop, Lawrence Cheng and Alain Attal, have increased the number of shares they own. Cheng purchased 5,000 shares, totaling $111,850, while Attal bought 10,000 shares, amounting to $224,000. Cheng’s recent purchase means he now indirectly holds a total of 42,088 shares through Cheng Capital LLC and directly holds 7,000 shares. On the other hand, Attal’s recent purchase has significantly increased his direct holdings to a substantial 538,692 shares.
In spite of the positive outlook, GME stocks declined by 3.67% in today’s trading session. However, investors have still gained nearly 20% in the last five days of trading.