Shares of GameStop rose 16% in after-hours trading after the videogame retailer’s chairman disclosed his firm bought 100,000 shares of the company’s stock on 22 March.

Ryan Cohen’s RC Ventures said it paid between $96.81 and $108.82 for the shares it purchased 22 March. Cohen owns an 11.9% stake in the retailer, or 9.1 million shares.