GameStop INSIDERS Just Bought $75M of GME in 3 Weeks

[music] >> This is an insider buy alert. Ryan Cohen, the CEO of GameStop, [music and singing] has bought another $17 million worth of the company's stock. It's so important that I literally just threw up in the bathroom, been sick all day. I know this is TMI, but I needed to get this info out to you because this is a really interesting story that I've been watching for a while. We need to talk about what's going on cuz no one's really putting [music] all these pieces together for you. So, let's look at what homie Ryan Cohen did. We all know and love him dearly. Look at this cute little face here, Ryan Cohen. So, he's been on a buying spree of his own stock, which is very interesting because it wasn't just today's buy. Back just a couple of days ago on September 29th, he also bought $11 worth. But, it doesn't stop there because earlier, I don't know, 8 days before that, he bought 26 million. How much money does this man have? A lot because he also bought $20 million on September 10th. I mean, we're talking about in less than 3 weeks this man has put together what? I can't do the math. I'm sick. A lot of money. Over the past year here though, he's bought $95 million worth of the stock. Now, it's not just him buying, and this is where it starts to really get interesting. This is what you need to watch for with these insider buys on companies like this because when you look back at the insider transactions on GameStop. Oh, what's that? On Thursday, Nat Turner, the homie who's a director on the GameStop board, he also bought a quarter million dollars worth of stock. The homie Larry, aka Lawrence Cheng. I don't know if he goes by Larry. Please forgive me. I'm a little bit delulu right now because I have a fever of 112 degrees. But, the homie Lawrence, he bought about a million dollars worth of stock also. Now, here's the really interesting part that I don't see anybody breaking down for you. This is what I always like to watch for with insiders and their buying. Look at when they're buying and what happens to the stock afterwards. You see a big clustered buy here when the stock was around $19.59. Oh, by the end of May 27th, it's $35. Wow, look at this other local bottom here where a heavy accumulation starts happening around $21 on January 20th and 12 days later the stock goes up to almost $26. Now you're seeing some of the most buy activity that you've seen from insiders on GameStop in a couple of years here and which direction do you think that the stock is going? None of this is financial advice. None of us can see the future including these insiders, but I'm curious for your take where you see the stock going right now because there's a lot of interesting things going on with GameStop. The insider buys are not the full story here. This is a company that is in full pivot mode basically. Now this all kind of started back in May where they famously tried to buy eBay for 56 billion. eBay was like pause. What are you talking about? We're not up for sale right now. But quietly behind the scenes, I'm going to show you this real quick on eBay because I want to show you what company has amassed a large position here when you look at the institutions that own eBay. Oh, look at this. GameStop has amassed almost a 10% stake in ownership despite eBay saying, "Mhm, no thanks. We're not up for sale." Now what else is interesting here about this story? They're generating a ton of money from this position that they hold in eBay. If you look at their second quarter profits that they reported back in early September just before a lot of these buys started happening from these insiders, but they were getting about 300 million worth of profit in the second quarter there and about $238 million of net gains were related to that stake in eBay. So, whether they're making money off their video games or not, which is a dwindling business that I want to get into next, they're making money off of just outright owning eBay stock. GameStop is pivoting big into collectibles, and this is the really interesting part here. When you look at this from Barron's, again, just back in September when a lot of the earnings information was released for GameStop for the second quarter, it was all of their second quarter info. Please forgive me. I think I'm dying. Uh the company's collectibles and trading cards sales surged 57% to $356 million, about 45% of their total sales. So, most of their money is coming from just outright owning eBay stock and through trading cards. GameStop, not a place to stop to buy video games, because who's buying physical video games? Nobody. It's 2026. You better get with it, brother. I don't know what you're thinking at this point here. But, also something that I don't see anybody really talking about, which is interesting, is this push into collectibles and this pivot for the company is actually helping them reopen stores. They famously, uh several months ago, I think maybe even up to a year ago, had to announce they're going to be closing between 5 and 600 of their stores in North America. Now, they have reopened one in where else? Brooklyn, Ohio. They reopened a store there recently, and a spokesperson said, "As for the rest, stay tuned." Ominous, but in a good way, because they could be opening up physical stores again. So, all of this kind of ties together into this very interesting price action that you're seeing for GameStop just over the past month as Ryan Cohen started making these heavy buys here. You've seen the stock go up almost 30% just in the past month. Now, on the day here when this news was released on Friday, uh the stock had gone up about 2 and 1/2%. About a percent and a half in the post market at the time of recording here. So, very interesting story going on with GameStop and the homie Ryan Cohen. Let's look at that beautiful face again. You tell me what you think. Insiders can't see the future. I can't, you can't, but we can start to kind of paint a picture to see what is happening here. I want to hear your thoughts down below. Ryan, what are you doing, brother? What Also, I wanted to point out what the options market is kind of pricing in here. This is interesting. This is the new Gex heat map on Unusual Whales. You see this 20, what is that? $28 call wall. Right now GME is at 25. You're not seeing a ton of volume there, but you are seeing a lot of volume on these contracts dated out into October 9th next week here where you're seeing more volume. And then you're seeing this put wall here right around the $24.5 level. I can't see that clearly. Had to zoom in. I'm going cross-eyed. I'm going to go call 911. You take a deeper look into this data and tell me what you think. What's going on, GameStop?