Ryan Cohen is not doing the “I believe in the company” thing with interviews.
He’s doing it with his brokerage account.
GameStop $GME ( ▲ 6.69% ) rallied again after a new filing showed Cohen bought another 500,000 shares on Wednesday for $10.8M, piling onto the 500,000 shares he purchased Tuesday for roughly $10.6M.
Cohen keeps buying and the stock keeps reacting
GameStop was already trading higher Wednesday after Tuesday’s purchase hit the tape, and the follow-up buy extended the move.
By 4:45 a.m. ET, the stock was up about 3% in premarket as traders treated the buys like a confidence signal from the top.
This is the cleanest kind of insider catalyst: CEO buying shares in size, back to back, with cash.
His message to CEOs is basically: buy your stock or get fired
Cohen did not leave any room for interpretation in the filing.
He wrote that it’s “essential” for the CEO of a public company to buy shares in the open market with personal funds to strengthen alignment with shareholders.
Then he took it a step further.
He said any CEO who fails to do that “should be fired.”
That is the most Ryan Cohen sentence ever.
Why this matters more than the headline pop
This is not just “insider buys stock.”
Cohen is positioning himself to be even more financially tied to GameStop’s performance if shareholders approve a new compensation package that would tie his pay entirely to aggressive earnings and market cap targets.
Meaning: he’s doubling down on the idea that if GameStop wins, he wins.
If it doesn’t, he eats it like everyone else.
Bottom line
Cohen just bought another 500,000 shares, making it 1 million shares in two days.
The CEO now owns about 8.56% of GameStop, and the market is taking the signal exactly how you’d expect: if the CEO is still buying, retail is still watching.