GameStop pops after Ryan Cohen boosts stake

Mar. 23, 2022 6:55 AM ETGameStop Corp. (GME)By: Clark Schultz, SA News Editor28 Comments

Gamestop store sign

Dennis Diatel Photography/iStock Editorial via Getty Images

GameStop Corp. (NYSE:GME) jumped in early trading on Wednesday after RC Ventures' Ryan Cohen increased an active stake in the retailer to 11.9% from 11.8% with another round of buying action.

Cohen purchased 100,000 shares of GameStop (GME) on Tuesday at prices ranging from $96.81 to $108.82.

See the SEC filing on the transactions

Shares of GME rose 11.99% premarket to $137.90 vs. the 52-week trading range of $77.58 to $344.66.

GameStop (GME) and other so-called meme stocks were already having a strong week off a shift toward some risk-on trading by investors.

The Seeking Alpha Quant Rating on GameStop is flashing Strong Sell.

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