GameStop Corporation (GME) reported disappointing third quarter earnings Wednesday, sending shares of the video game retailer lower. That's particularly rough news for one member of Congress who happens to be the only lawmaker to buy the meme stock in the past three years.
When Being Unique Isn't a Good Thing
Despite GameStop's cult following among retail investors, members of Congress have largely steered clear. The lone exception? Rep. Lisa McClain (R-Mich.), who disclosed purchasing GME stock earlier this year.
On June 11, McClain bought between $1,000 and $15,000 worth of GameStop shares. The stock traded in a range of $28.42 to $29.41 that day. Fast forward to today, with shares at $22.39, and the congresswoman is sitting on an unrealized loss.
The math gets a bit fuzzy given the disclosure rules that only require ranges rather than exact amounts. But if we assume McClain made a $15,000 purchase, she would have acquired somewhere between 510 and 528 shares. Those shares would now be worth approximately $11,420 to $11,817.
Translation: McClain is down between $3,182 and $3,580 on her GameStop investment, representing a loss of 21.2% to 23.9%.
McClain serves as Republican Conference Chairwoman, making her one of the most influential GOP members in Congress. She's also a close ally of President Donald Trump. Her committee assignments include Education and Workforce, plus Financial Services, along with several subcommittees.
A Prolific Trader With a Checkered Disclosure History
McClain ranks among the most active stock traders in Congress, with millions of dollars in transactions so far in 2025. Her most recent disclosure showed dozens of stock sales on October 31.
But her trading activity hasn't been without controversy. An August 13 filing this year included trades dating back to 2024, a clear violation of the STOCK Act, which requires members of Congress to disclose trades within 45 days.
That same disclosure revealed multiple purchases of Palantir Technologies (PLTR) shares, which have gained significantly since McClain acquired them.
According to the Detroit News, the trades in question were actually made by McClain's husband Mike. Spokesman Mason Devers told the publication that McClain "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."
As the sole member of Congress to take a position in GameStop over the past three years, McClain's investment will continue to draw scrutiny, especially as the meme stock navigates choppy waters following its latest earnings miss.