Shares of GameStop Corp. popped 16% in Monday’s pre-market session after RC Ventures, led by activist investor Ryan Cohen, ramped up his stake in the video game retailer to 12.9%. Shares jumped 40% in the five trading days to Dec. 24. According to an SEC filing, Cohen purchased 2.5 million GameStop (GME) shares between Dec. 15 and Dec. 18, at an average price of about $14.80 per share for an aggregate $37 million. The stock last closed at $20.15. As a result, RC Ventures now owns 9 million GameStop shares.
https://www.tipranks.com/news/gamestop-pops-16-pre-market-as-activist-investor-ramps-up-stake