Third quarter financial results from GameStop Corporation (NYSE:GME) are weighing on shares of the video game retailer Wednesday. This could be bad news for backers of the retailer and popular meme stock, which includes a member of Congress.
GameStop stock is facing resistance. What’s driving GME stock lower?
Congress Member Owns GameStop Stock
While GameStop has been a beloved stock for many retailer investors in recent years, it hasn't gotten the same love from members of Congress who buy and sell stocks. One member of Congress has bought GameStop stock since 2021, according to the Benzinga Government Trades page.
Rep. Lisa McClain (R-Mich.) disclosed buying GameStop stock earlier this year. On June 11, the congresswoman bought between $1,000 and $15,000 in GME stock.
GameStop stock traded between $28.42 and $29.41 on that day. With GameStop stock now trading at $22.39, McClain is down on her position.
It is unclear how much McClain spent on the GameStop stock given the wide range of $1,000 and $15,000 and also unclear at what price point she bought shares.
Assuming a $15,000 purchase, the congresswoman bought between 510.03 and 527.80 shares. Those shares would be worth $11,419.57 or $11,817.44, respectively, today.
This means McClain is down somewhere between $3,182.56 and $3,580.43 on her GameStop stock she bought this year assuming a $15,000 purchase. This is a decline of 21.2% to 23.9%.
McClain is the Republican Conference Chairwoman, making her one of the most powerful GOP members in Congress. The congresswoman is a close ally of President Donald Trump.
McClain serves on the Committee on Education and Workforce and on the Committee on Financial Services, along with several subcommittees.
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McClain's Trading History
McClain is one of the most active traders among members of Congress with millions of dollars in transactions in 2025.
The congresswoman's most recent trading disclosure showed dozens of stocks sold on Oct. 31.
Earlier this year, Benzinga flagged an Aug. 13 filing that included trades dating back to periods in 2024, a violation of the STOCK Act, which requires disclosure within 45 days.
The disclosure included multiple stock purchases of Palantir Technologies (NASDAQ:PLTR) shares, which are up significantly since the time the congresswoman purchased them.
Benzinga reached out for comment at the time and did not hear back.
According to a report from the Detroit News, the trades in the filing were conducted by McClain’s husband Mike.
“She promptly filed the necessary paperwork immediately after being made aware of the transactions made in managed accounts and remains committed to transparency and adherence to all House financial disclosure rules and regulations,” spokesman Mason Devers told the Detroit News.
As the only member in Congress to buy GameStop stock in the last three years, McClain's trade will be closely monitored going forward.
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