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Why Shares of GameStop Popped 14.3% Today

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Why Shares of GameStop Popped 14.3% TodayPhoto, wide shot, wide-angle lens, Clothing manufacturer, neutral atmosphere, photo by Galina Stepanova: https://img.theapi.app/temp/4c710447-f68a-47bc-a682-c2d83e801596.png

Shares of video game retailer GameStop Corp. (NYSE: GME) jumped as much as 14.3% in trading Monday after news broke that insiders bought a significant amount of shares. At 3 p.m. EDT shares were still up 11.1% on the day.

There were two big insider purchases. CEO George Sherman bought 96,735 shares last week and CFO Jim Bell acquired 4,500 shares. Sherman's acquisition cost about $500,000, which is significant considering the company's $350 million market cap right now.

Image source: Getty Images.

Source Fool.com

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