GME Stock Ticks Higher Overnight: Retail Traders Buoyed By Another Insider Buy, Speculate Ryan Cohen To Be 'Next With Big One'

Two GameStop directors bought shares as second-quarter results beat expectations.

• GameStop director James Grube bought 10,255 shares for about $196,000, increasing his direct stake to 39,694 shares. 
• The purchase came a day after fellow director Lawrence Cheng bought 55,000 shares worth nearly $1.03 million. 
• GameStop’s stronger Q2 profit and higher 2026 EBITDA outlook have boosted investor confidence. 

GameStop Corp. (GME) stock ticked higher overnight as retail investors cheered another insider purchase, with director James Grube buying 10,255 shares just on the heels of Lawrence Cheng’s roughly $1 million purchase. The buying follows GameStop’s stronger-than-expected fiscal second-quarter results, fueling speculation among traders that Chairman Ryan Cohen could be “next.” 

GameStop stock edged 0.5% higher overnight, after clocking its best day in three months in the regular session. 

GameStop Director Adds 10,255 Shares 

On Wednesday, GameStop director James Grube increased his stake in the video-game retailer through a fresh stock purchase. Grube acquired 10,255 shares of GameStop Class A common stock at $19.12 apiece, according to a Form 4 filing with the U.S. Securities and Exchange Commission (SEC).

The purchase raised Grube’s direct ownership in GameStop to 39,694 shares. Based on the reported transaction price, the latest purchase was worth about $196,000. The update comes a day after another director, Cheng, bought 55,000 shares worth nearly $1.03 million.

GameStop’s Q2 Profit Shows Strong Improvement 

The insider transactions follow an improvement in GameStop’s fiscal second-quarter (Q2) 2026 profit. Collectibles sales jumped 57%, operating income reached a record $160.2 million, and adjusted EBITDA more than doubled to $174 million. GameStop ended the quarter with $5.4 billion in cash and related assets and raised its 2026 adjusted EBITDA target to more than $650 million.

The purchase has instilled confidence among GameStop investors, who remain focused on the company’s growth plans. CEO Ryan Cohen earlier tried to buy eBay (EBAY) for about $56 billion to help build a stronger rival to Amazon. eBay rejected the offer, but Cohen said he still wants to pursue a deal. 

What GME Retail Traders Are Saying 

On Stocktwits, retail sentiment around the stock improved to ‘extremely bullish’ from ‘bullish’ territory the previous day. The stock garnered a 151% increase in message volume over the past week. Some traders speculated that CEO Ryan Cohen could be next to make a much larger purchase. 

A user said, “Alright, 2 insiders bought!! RC is next with the big one!! Buy back for 1B at least let’s go!!!!”

Another user said, “Larry Cheng buys and then…I’m sure Ryan’s around the corner too!”

A third user said, “These board members have a lot of money but they are not Ryan Cohen type rich and they are laying out a lot of money so something is happening and likely sooner than later. If it were later they wouldn’t be laying out the large sums, instead just cost averaging in.”

GME stock has slipped nearly 1% year to date. 

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