BUZZ-GameStop shares rise after its CEO buys nearly $23 million worth of company stock

October 14 - ** Video game retailer GameStop (GME.N) shares rose 1.87% in pre-market trading, to $27.73

** The company’s CEO Ryan Cohen purchased $22.8 million worth of (link) stock, increasing his stake to 9.1%—according to filings with the U.S. Securities and Exchange Commission (SEC)

** Cohen bought 844,130 shares at a price of $26.75 to $27 per share

** This is Cohen's second stock purchase this month; previously, he spent $17.1 million on October 2—according to filings with the U.S. Securities and Exchange Commission (SEC)

** GME made a $55.5 billion acquisition offer for eBay (EBAY.O) in May, valuing each share at $125, but was rejected by eBay

** In the same month, Bloomberg reported that Cohen was considering alternatives to the eBay takeover, including forming partnerships or establishing a joint venture

** As of the close of the previous trading day, GME shares hovered near a one-year high, with a year-to-date increase of over 35%

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