GameStop vs. eBay: The Meme Stock Sequel No One Saw Coming

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GameStop (GME) shares did a jazz hands routine, leaping 9% in after-hours trading on May 2. Why? Oh, just a little rumor about them eyeing eBay (EBAY) like it’s the last slice of pizza at a party. According to the Wall Street Journal, GameStop is apparently plotting a takeover bid, because why not add “global e-commerce giant” to their résumé?

Cue the Reddit crowd losing their minds faster than I lose my patience in a Target checkout line. Meme stocks are back, baby, and they’re dusting off their 2021 playbook like it’s a vintage vinyl record.

Stock Surge: The Meme Stock Revival Tour

GameStop closed up 6.33% at $26.53 on May 1, with trading volume hitting 18.7 million shares-basically a standing ovation from investors. After-hours trading pushed it to $27.61, because apparently the drama couldn’t wait until morning.

GameStop stock surge chart

Meanwhile, eBay shares were like, “Hold my latte,” and jumped 10-15% in after-hours trading. It’s like 2021 all over again, minus the dalmatian-print masks and excess hand sanitizer.

“GME and eBAY. Makes perfect sense,” remarked Michael Burry, probably while sipping a decaf latte and plotting his next move.

Short interest is at 61.91 million shares, or 15% of the float-not 2021 levels, but enough to keep things spicy. Like a jalapeño in your guac, but not the whole pepper.

Reddit trading community enthusiasm

Reddit boards like r/Superstonk and r/wallstreetbets were popping off harder than a champagne cork at a wedding. One user framed it as “Ryan Cohen’s victory lap,” which is adorable, but let’s see if he can actually parallel park this deal.

Cohen’s $100 Billion Moon Shot

The WSJ report claims GameStop has been quietly buying eBay shares like they’re limited-edition Funko Pops. A formal bid could drop sooner than your next Amazon package. If eBay’s board says “no thanks,” Cohen plans to go full-on rom-com and take the offer directly to shareholders. Bold move, Ryan. Bold.

“I like that Ryan Cohen chose to drop this news after GameStop has been buying up shares/options of eBay – it creates a win/win scenario vs. the parties that want to sabotage GameStop,” one user remarked, probably while refreshing their portfolio every 3 seconds.

Cohen’s compensation package is tied to GameStop hitting a $100 billion market cap and $10 billion in cumulative EBITDA by January 2026. Current market cap? A cool $12 billion. So, yeah, just a casual 733% increase needed. No biggie.

GameStop $GME CEO Ryan Cohen just got a new compensation package

Cohen would get the full 171.5M shares of GME at a $20.66 cost basis if he can get the company to a

$100 Billion market cap and $10B in Cumulative Performance EBITDA

GameStop’s current market cap is $9.3B

The…

– Evan (@StockMKTNewz) January 7, 2026

GameStop’s $9 billion in cash and bitcoin holdings give them some wiggle room, but let’s be real: this deal will probably involve more financial gymnastics than a Cirque du Soleil show. Heavy debt or stock issuance? Likely. A 13D filing or formal offer? Stay tuned.

“GameStop is preparing to acquire eBay, a company worth 4 times its own size…Cohen did exactly this before, he built Chewy from a small online pet food company into a $40 billion business before selling it…A company that was on the verge of bankruptcy five years ago is now attempting to buy one of the largest e-commerce platforms on earth,” analysts at the Bull Theory highlighted, probably while updating their LinkedIn headlines.

So, will this be the greatest comeback since The Boss Baby got a sequel, or just another meme stock fever dream? Only time-and Ryan Cohen’s ambition-will tell.

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2026-05-02 11:36