GameStop (NYSE: GME) is pushing meaningfully higher this morning after Ryan Cohen, its chief executive, agreed to anchor his salary to the company’s stock price performance.
According to GME’s press release, “Mr. Cohen will receive no guaranteed pay – no salary, no cash bonuses, and no stock that vests over time.”
Instead, the latest pay plan has made it so that Cohen will be $35 billion richer if GameStop hits a few ambitious profitability targets that drive its market cap up tenfold.
At the time of writing, GME shares are down nearly 40% versus their 52-week high.
Does Cohen’s pay plan warrant investing in GME Stock
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Ryan Cohen is set to bank billions but only if he can orchestrate a massive increase in GameStop’s market cap to a whopping “$100 billion” over the next ten years.
That’s a tall order, given GME was worth some $34 billion even at the peak of the meme stock mania in 2021.
Plus, the gaming merchandise retailer must hit $10 billion in cumulative performance EBITDA as well in order for Cohen’s pay plan to fully vest. That metric currently sits at just $200 million.
What these numbers suggest is: the billionaire has immense confidence in his ability to truly revive this name that’s broadly seen still as a meme stock only.
And given his track record, that vote of confidence does offer a major reason for investors to stick with GameStop stock for the long term.
What could drive GameStop shares higher in 2026?
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While a tenfold increase in market cap sure is ambitious, GameStop is already pulling some levers that seem to be driving bottom-line growth.
For example, its recent push into “collectibles” worked wonders in the latest reported quarter, with net income pushing meaningfully higher on a year-over-year basis to $77 million.
Then of course, there’s the Bitcoin pivot that makes GME stock infinitely more attractive to crypto enthusiasts – with potential to trigger a massive rally should the cryptocurrency stage a comeback in 2026.
If all else fails, there’s always the possibility of another major short squeeze that drives GameStop up significantly from here – perhaps not to a $100 billion market cap – but enough for believers to have a big payday.
Note that Wells Fargo recently forecast that markets will see a meme stock rally in 2026.
GameStop: an attractive yet speculative bet
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GameStop shares remain a highly speculative bet – a stock that continues to polarize Wall Street between skeptics who dismiss it as a relic of meme‑mania and believers who see untapped potential.
Yet Ryan Cohen’s audacious pay plan, the firm’s push into higher‑margin categories, and its bold BTC pivot all suggest there are levers that could deliver exponential upside if executed well.
Add in the ever‑present possibility of another short squeeze, and the case for keeping at least some exposure to GME becomes clear – while risky, the pay-off could be transformative for the patient investors.