There's just one problem: he didn't sell a single share during the Reddit-fueled short squeeze.
Cohen isn't the only one who is sitting on his stock. GameStop insiders haven't sold any shares since the week of January 11, selling at weighted average prices between $19.99 and $38.08 per share. (Friday's close price was $325). The two other biggest beneficiaries of the GameStop surge, CEO George Sherman and billionaire investor Donald Foss, haven't touched their stock either.
Since GameStop's next earnings report is due on March 26, it is possible that insiders are in a blackout period, which means they could be restricted from buying or selling stock. But even without regulatory constraints, these high-profile investors and executives likely have their hands tied. Realizing these paper gains would be at the very least a sell signal and would present a massive reputational risk.