EBay has rejected an unsolicited $56 billion offer to purchase the company put forward by retailer GameStop, calling the bid "neither credible nor attractive." GameStop announced its intent to purchase 100% of eBay's stock for $125 per share on May 3, 2026. This price is 46% above eBay's recorded share value on February 4, 2026. However, the bid wasn't taken seriously by those with financial knowledge of the situation. Not only is this price overinflated, but eBay's value is much higher than that of GameStop's, raising questions about how it could even afford or manage the acquisition.
The retailer saw a spike in its share price in 2020 when GameStop became a meme stock, with thousands of individuals purchasing stakes in the company just as it was predicted to fold. Ryan Cohen was one of the key figures of the movement during this period, purchasing a 12.9% stake in GameStop before the end of the year. Known as the Meme King, he went on to become CEO in 2021, opting not to take a salary for his role but instead receiving a 9% stake in the company. Essentially, Cohen only earns money for his work if GameStop increases in value....
