Before Monday’s opening bell, eBay’s stock is skyrocketing as Ryan Cohen’s GameStop seeks to acquire the company for about $56 billion to compete with Amazon, the world’s largest online retailer.
The major gaming retailer stated that its around 1,600 U.S. sites might be used for delivery and drop-off. Live sales broadcasts from GameStop locations showcasing eBay products are one suggestion.
In an interview with CNBC on Monday, Cohen stated, “eBay has the second largest commerce franchise, and there’s a big opportunity to do something much larger.”
GameStop is offering $125 in cash and stock for each share. On paper, the proposed acquisition has a $55 billion equity value.
On Monday, eBay verified the massive bid and stated that it had not communicated with GameStop or received any correspondence from the company before receiving the proposal.
eBay stated that the board of the firm will evaluate the offer and decide on the best course of action after consulting with financial and legal consultants.
GameStop began buying eBay shares in February and now owns 5% of the company.
The online seller spent $2.4 billion on sales and marketing in fiscal 2025 but only added 1 million net active buyers, according to the corporation, which is seeking to reduce costs at eBay. Within a year of the projected acquisition closing, GameStop claims to have reduced costs by $2 billion annually.
Cohen, who holds roughly 9% of GameStop, would take over as CEO of the merged business. Only the merged company’s performance would determine his compensation.
In 2023, Cohen was appointed CEO of GameStop. As streaming disrupted the game business at the time, the role had become a revolving door as the company struggled to survive.
One of the most well-known meme stocks to send Wall Street retail traders into a frenzy was GameStop. In 2021, the company’s stock surged by 1,000% in just two weeks thanks to a group of less wealthy investors.
Although GameStop’s stock has decreased since then, it has still increased by more than 30% this year.
eBay’s stock increased by almost 7% during premarket trade, while GameStop’s shares fell by about 3%.
