James Fontanella-Khan

The test here is like whether a meme stock king can actually pull off the first meme M&A deal in history.

I'm Mark Filippino, and here's the news you need to start your day.

He's not your usual entrepreneur.

He appeals to that kind of anti-establishment kind of investor.

And I think the test here is like whether a meme stock king can actually pull off the first meme M&A deal in history.

You know, it's not a crazy idea, and he has a good track record.

He's not only been the chairman of GameStop, he created out of scratch a company called Chewy, which kind of is known for its pet supplies.

And he built that out of nowhere and went on to become a publicly listed company for $9 billion.

So he's not like a random entrepreneur.

He knows what he's doing, and he thinks he could do it at eBay.

Well, it's a $56 billion deal, a very unsolicited $56 billion deal.

If you believe what Cohen says, he sees the opportunity to create a rival to Amazon, the e-commerce giant.

He sees the combination of GameStop's kind of retail business with eBay's e-commerce business as one that is highly complementary.

And he thinks he can turn it into a $100 billion company.

I mean, that was some great TV.

And he's instantly become a meme on social media.

So the math does add up.

The way he'd do it is...

half cash, as he says quite clearly.

And the cash portion is fairly straightforward.