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00:03GameStop Corp. shares rose in extended trading on Wednesday after CEO Ryan Cohen
00:08disclosed another open market purchase of company stock, according to a new SEC filing.
00:14Cohen purchased 500,000 shares at a weighted average price of $21.60,
00:20matching an open market purchase made on Tuesday. The latest transaction increased
00:24his ownership stake to 9.3% or about 42.08 million shares. Cohen said the purchase reflects his
00:32belief that CEOs should buy company stock with personal funds to align with shareholders.
00:38The purchases follow the unveiling of a new compensation package tied to achieving a $100
00:42billion market cap and $10 billion in cumulative performance EBITDA. GameStop shares were up 3.02%
00:50in after-hours trading at $22.34, according to Benzinga Pro.
00:54For all things money, visit Benzinga.com.
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