(Reuters) GameStop rose more than 10% in premarket, extending gains after closing up 30% on Tuesday, as billionaire Ryan Cohen snapped 100,000 shares of the gaming retailer.
The latest purchase means that Cohen’s stake in GameStop is about 11.9%, with the total number of shares in the company at 9.1 million.
With a gain of more than 30% on Tuesday, the GameStop shares registered the largest single-day percentage surge since March 25 last year.
Cohen has been vocal about GameStop closing underperforming stores while advocating for a move into more growth initiatives into e-commerce.
Cohen is the co-founder of online pet products entity Chewy and serves as GameStop chairman.
GME: NYSE is up +11.17%
