Cohen’s eBay Fire Sale: Gamestop CEO Auctions Mug, Hat and More To Fund eBay Takeover

• GME’s proposal values eBay at approximately $55.5 billion and offers $125 per share in a 50/50 cash-and-stock deal.
• GameStop’s roughly $11–12 billion market cap makes the transaction a significant stretch on paper.
• Cohen’s eBay username “ryan_5050” playfully nods to the 50/50 cash-and-stock structure of GameStop’s non-binding takeover proposal for eBay.

GameStop Corp. (GME) CEO Ryan Cohen took to X on Wednesday with a tongue-in-cheek response to the ongoing skepticism surrounding his company’s surprise non-binding proposal to acquire eBay Inc.

“I’m selling stuff on eBay to pay for eBay,” Cohen posted on X, alongside a link to his personal seller account.

While GME shares traded 4% higher at the time of writing, EBAY stock edged up 3%.

GameStop’s Buyout Proposal

The lighthearted jab comes as eBay’s board is reportedly scheduled to meet this week to formally review GameStop’s unsolicited buyout offer. The proposal values eBay at approximately $55.5 billion and offers $125 per share in a 50/50 cash-and-stock deal — representing roughly a 20% premium to eBay’s closing price before the news broke.

GameStop’s roughly $11–12 billion market cap makes the transaction a significant stretch on paper, and Cohen’s recent CNBC “Squawk Box” appearance, in which he deflected detailed questions about funding the gap and financing, has cooled institutional enthusiasm and prompted some to question the bid’s seriousness. Prominent investor Michael Burry notably sold his entire GME position after the announcement, citing concerns over the added debt load.

Ongoing Auctions

Cohen’s eBay listings — which include a mix of personal memorabilia and other items — have drawn immediate attention, with an X user joking if he could pay for them in half stock, half cash. The auctions for the more than two dozen items are set to run through mid-May.

The items listed by Cohen include everyday personal and collectible memorabilia such as a used mug, a hat, a GameStop-branded carpet, a Vault Boy statue, GameStop store signs, and several sports trading cards. There is also an Apple iPhone up for auction. 

Interestingly, Cohen’s username “ryan_5050” playfully nods to the 50/50 cash-and-stock structure of GameStop’s non-binding takeover proposal for eBay. Attached to many of the listings is a copy of the CEO’s offer letter to eBay.

How Did Retail Traders React?

On Stocktwits, retail sentiment around GME and EBAY stocks stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume remained at ‘extremely high’ levels.

A Stocktwits user referred to Cohen’s listings on eBay as “too funny.”

While EBAY stock has gained 54% over the past 12 months, GME shares dropped 3%. 

Read More: Fund Manager Believes Uber Will Make Waymo Irrelevant Once Robotaxis Go Global — Here’s Why

For updates and corrections, email newsroom[at]stocktwits[dot]com.