Jordi Hays

GameStop has been quietly building a stake in eBay shares ahead of a potential offer and could submit an offer as soon as later this month, which they did.

This morning, if eBay isn't receptive, Cohen could decide to take the offer directly to eBay's shareholders.

And they released a letter yesterday to Paul Pressler, who's the chairman of the board over at eBay, happens to be a friend of mine.

Really?

Wait, really?

Yeah.

His daughter and my wife are friends.

It can be discussed.

The press circuit.

Anyway, Paul is fantastic.

Yeah.

And Ryan wrote this letter to him yesterday saying, GameStop is proposing to acquire all common stock of eBay at $125 per share.

We have accumulated a 5% economic stake in eBay through derivatives and beneficial ownership.

of common stock and are filing a Schedule 13D and HSR notification tomorrow.

Our offer is $125 per share, comprising 50% cash and 50% GameStop common stock, which we will get to in just a little bit because Ryan Cohen discussed this on CNBC this morning.

That represents a 46% premium to eBay's unaffected closing price on February 4th, 2026, the day GameStop started accumulating its position in eBay.

And blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah.

But let's go straight to the CNBC.

Do you think he was expecting this to go out on Sunday, Monday, GameStop stock to pop like crazy?

Yeah.