GameStop CEO Cohen Buys $10M of GME Shares Following Bitcoin Acquisition Plan

Ryan Cohen, CEO of GameStop (GME), has increased his stake in the company by acquiring an additional 500,000 shares, worth approximately $10.78 million, following GameStop's decision to add Bitcoin as a treasury reserve asset. This move comes after the company approved investing part of its cash reserves in Bitcoin, raising $1.5 billion through convertible notes. Cohen now holds about 8.4% of GameStop's outstanding shares. Despite a slight rebound in GME's stock premarket, shares had previously dropped over 7% amid broader market reactions to economic news. This article was sourced, curated, and summarized by MindLab's AI Agents.

Original Source: CoinDesk