Ryan Cohen picks up 100,000 GameStop shares, stock jumps

FILE PHOTO: A GameStop is pictured in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File Photo

(Reuters) - Billionaire Ryan Cohen's investment company bought 100,000 shares of GameStop Corp, according to a regulatory filing on Tuesday, sending the videogame retailer's shares 16% higher in extended trading.

The purchase takes Cohen's stake in the company marginally higher to 11.9%, with the total number of share owned at 9.1 million.