Gamestop's Persistent Pursuit of Ebay

Gamestop is not backing down from its ambitious plan to acquire Ebay, despite the latter's rejection of a $56 billion takeover offer. Recent reports indicate that Gamestop has increased its stake in Ebay to 9.8%, signaling its determination to move forward with the acquisition strategy.

CEO Ryan Cohen envisions transforming Gamestop into a $100 billion retail powerhouse, a vision he once described as "either genius or total madness." The plan to acquire Ebay was initially announced in early May 2026.

Gamestop's Strategic Moves

Ebay dismissed Gamestop's offer as "neither credible nor attractive," yet Gamestop has reportedly doubled its stake in the company in recent weeks. As of July 17, 2026, Gamestop held approximately 43 million shares of Ebay, valued at nearly $5 billion. Following the news of Gamestop's increased interest, Ebay's stock price rose by approximately 2%, reaching $114 on July 20, 2026.

Cohen's Commitment

Cohen has reiterated his intentions regarding Ebay, stating that he will not reveal his strategies in advance but is determined to make a move on Ebay in one form or another, as reported by Reuters.

Market Signals

Market analysts interpret Gamestop's stock purchases as a clear indication that the takeover plans remain alive despite the rejection. However, skepticism persists on Wall Street, primarily due to concerns over financing the deal.

Ebay currently boasts a market capitalization of nearly $50 billion, making it more than five times the value of Gamestop, which stands at approximately $9.8 billion with shares priced at $21.75 as of July 20, 2026.

Financing Challenges

Gamestop aims to fund the acquisition with a $20 billion financial boost from TD Securities, contingent upon the merged entity receiving an "Investment Grade" rating from major credit agencies. This rating signifies that the company has good to excellent creditworthiness, making it a lower-risk investment.

In addition to this financing, Cohen plans to invest around $500 million of his own money and has pointed to a positive letter from his banks. He believes that only a united company under his leadership can effectively compete with giants like Amazon.