CEO Ryan Cohen bought the dip in GameStop

GameStop CEO Ryan Cohen has something in common with the loyal following of retail investors: he’s down to buy the dip. A filing on Monday after the close showed that Cohen recently purchased another $10.8 million in stock, buying 500,000 shares at an average price of $21.55.

The buys were made on April 3, when global stocks were plummeting following President Donald Trump’s reciprocal tariff announcement. This was a discretionary purchase on his part, not part of a 10b5-1 plan. Cohen is the second-largest holder of GameStop, trailing only ETF behemoth Vanguard.

Shares of GameStop tumbed after the retailer issued a convertible note to (presumably) buy bitcoin. The potential dilution could be massive, as is the subsequent short selling by holders of those notes.

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