GameStop stock jumps as CEO Ryan Cohen buys $26 million in shares

What happened: GameStop ( GME ) stock jumped about 4% on Tuesday.

What's behind the move: The video game retailer disclosed that its CEO, Ryan Cohen, bought roughly 1.1 million shares for $26 million.

GameStop shares have surged 30% over the past month as shown on Yahoo Finance's AlphaSpace chart.

What else you need to know: Shares have r ecovered after GameStop reduced $1.4 billion in debt by swapping bonds for company stock instead of paying cash.

GameStop also saw its profits rise in its last quarter. Its bottom line was boosted in part by its stake in eBay ( EBAY ).

Earlier this year, the company made an unsolicited $56 billion bid to purchase eBay, a move that was later rejected by the online marketplace.

Ines Ferre is a senior business reporter for Yahoo Finance.