Cohen's rapid-fire accumulation (three amendments in ~12 days) signals high conviction and potential escalation of his activist agenda. Watch for further open-market purchases or a public demand letter outlining strategic changes at GameStop.
Price Chart
Executive Summary
Ryan Cohen filed an amended Schedule 13D on October 2, 2026, disclosing the open-market purchase of 700,000 GameStop shares at a weighted average price of $24.4061 per share. This increases his direct beneficial ownership to 45,383,306 shares (including 3,734,784 warrants), representing approximately 8.9% of shares outstanding. The filing signals continued conviction and incremental accumulation by the activist investor.
Key Financial Metrics
Key Facts
- Ryan Cohen purchased 700,000 shares on October 2, 2026 at a weighted average price of $24.4061 per share.
- Total direct beneficial ownership is 45,383,306 shares (including 3,734,784 warrants), or approximately 8.9% of shares outstanding.
- The aggregate purchase price for the 41,648,522 directly owned shares (excluding warrants) is approximately $202,633,741.
- This is the 20th amendment to the Schedule 13D, filed just days after the 19th amendment on September 29, 2026.
- The stake percentage is based on 504,500,990 shares outstanding as of September 3, 2026.
Financial Impact
Cohen spent approximately $17.1 million on the 700,000-share purchase at ~$24.41/share.
Risk Factors
- GameStop's core business remains challenged by digital game distribution and declining physical retail foot traffic.
- Cohen's activist campaign has not yet resulted in a clear strategic pivot or operational turnaround.
- The stock's elevated valuation relative to fundamentals creates downside risk if activist momentum fades.
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0000921895-26-002718 |
| Document: 0000921895-26-002718-index.html | 0000921895-26-002718 |
| Document: 0000921895-26-002718.txt | 0000921895-26-002718 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $26.47 | awaiting T+60 | — | $23.90 (−9.71%) |
Oct 13, 2026 13d ago | Insider Cluster | $27.15 | awaiting T+60 | — | $23.90 (−11.97%) |
Oct 13, 2026 13d ago | SC 13D/A | $27.15 | awaiting T+60 | — | $23.90 (−11.97%) |
Oct 5, 2026 21d ago | Insider Cluster | $24.76 | awaiting T+60 | — | $23.90 (−3.47%) |
Oct 2, 2026 24d ago | Insider Cluster | $25.24 | awaiting T+60 | — | $23.90 (−5.31%) |
Oct 2, 2026 24d ago | SC 13D/A | $25.24 | awaiting T+60 | — | $23.90 (−5.31%) |
Oct 1, 2026 25d ago | Insider Cluster | $24.70 | awaiting T+60 | — | $23.90 (−3.24%) |
Sep 29, 2026 27d ago | SC 13D/A | $24.65 | awaiting T+60 | — | $23.90 (−3.04%) |
Sep 21, 2026 5w ago | Insider Cluster | $24.03 | awaiting T+60 | — | $23.90 (−0.54%) |
Sep 21, 2026 5w ago | SC 13D/A | $24.03 | awaiting T+60 | — | $23.90 (−0.54%) |
US Market Status
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