GME Reportedly Wants To Buy eBay But Retail Wonders How; eBay Stock Soars

• GME is making an offer to eBay as a part of CEO Cohen’s plan to turn the retailer into a $100 billion firm.
• GME has a market value of $35 billion, against eBay’s $45 billion. 
• Takeover a part of Cohen’s plan to move GME beyond video games.

GameStop (GME) stock jumped 4% and eBay (EBAY) soared 13% after hours following a media report that said the video game retailer is preparing to take over the online marketplace eBay. 

The move is a part of GME CEO Ryan Cohen’s audacious plan to turn the retailer into a $100-billion plus juggernaut, The Wall Street Journal reported on Friday. 

GameStop, which has a market value of around $12 billion, has been quietly building a stake in eBay’s shares ahead of a potential offer. EBay is several times GameStop’s size, with a market value of around $46 billion, according to WSJ. 

GameStop could submit an offer for eBay as early as later this month. 

If eBay isn’t receptive, Cohen could decide to take the offer directly to eBay’s shareholders. WSJ said the details of the potential offer for eBay couldn’t be learned.  

GameStop had around $9 billion in cash on hand at the end of March, up from $4.8 billion a year earlier.

What’s Cohen’s Plan?

As of early 2026, Ryan Cohen has transitioned GameStop from a "survival phase" into an aggressive "expansion phase." His strategy is centered on leveraging a massive cash reserve, $9 billion as of end-2025, to pivot the company into a diversified retail and investment powerhouse. 

Cohen, earlier in January 2026, told WSJ he was scoping out potential deal targets, especially in the consumer and retail sector, as part of a plan to scale the business far beyond video games and collectibles.  

GME’s Latest Financials

GameStop’s Q4 2025 earnings reported a massive EPS beat of $0.49 against estimates of $0.31, despite revenue falling to $1.1 billion, down from $1.28 billion from the same quarter last year, as the company intentionally shrank its store footprint. 

The next quarterly earnings report is due on June 9th after market hours. 

Michael Burry Supports GME

“The Big Short” investor had bought the stock at $25.56 a piece on April 22. Burry initially held a position in GameStop in 2019-2020, which he sold before its famous “meme” rally in 2021. He has been accumulating the stock since January this year, although his exact stake is not known. 

“The position has been shrinking, more than I like, as a percentage of my portfolio due to cash inflows. I have been waiting for lower prices, and decided to pay up today before it moves more,” Burry said in a Substack post. 

GME Retail View 

Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘extremely high’ message volumes. 

One user was excited about the returns he could make on GME.

https://stocktwits.com/RyanTheScammer2/message/652071019

Another user suspected GME’s capability to take over eBay.

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The stock has gained 32% year-to-date.