GameStop jumps 4% as CEO Ryan Cohen buys 1M shares, signaling confidence amid mixed quarterly results.

GameStop's stock rose 4% after CEO Ryan Cohen purchased one million shares in the open market, signaling strong insider confidence. This move stands out as the broader gaming sector, including Take-Two and Roblox, showed little change. Despite a 19% drop in sales, GameStop reported record operating income and raised its EBITDA forecast, driven by collectibles and cost discipline rather than game sales growth. Investors will watch if this insider buying trend continues and how the stock holds its gains amid ongoing challenges.