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GameStop Sets A New Financial Record, And It’s No Thanks To Games
GameStop reported a record operating income of $160.2 million for its fiscal Q2, driven by a 57% surge in collectible sales. Despite overall net sales falling due to fewer game sales and international store closures, the company's focus on collectibles has become its primary revenue driver. CEO Ryan Cohen suggested potential expansion into live commerce and digital item marketplaces.
GameStop (GME) held $5 billion in cash and nearly $5 billion in eBay stock as of August 1
GameStop has announced preliminary Q2 2026 earnings, revealing it holds $5 billion in cash and $5 billion in eBay stock. Despite repeated rejections from eBay, GameStop and CEO Ryan Cohen continue to pursue an acquisition. Michael Burry notably sold his stake in GameStop in May 2026.
After eBay’s Resounding Rejection, GameStop Reconsiders Its $56 Billion Acquisition Bid
GameStop CEO Ryan Cohen is reportedly reconsidering his $56 billion acquisition bid for eBay after the latter rejected the offer. Cohen is now exploring a partnership between the two companies to sell collectible items and digital gaming assets. GameStop currently holds a 9.8% stake in eBay.
Evening Legal Briefs
eBay has been ordered to pay $46 million to journalists who were targeted in a harassment campaign orchestrated by the company. In a separate legal development, a judge has blocked a state law that would have banned prediction markets.
eBay and its former execs settle cyberstalking case brought by journalist couple
eBay and its former executives have settled a cyberstalking lawsuit brought by a journalist couple. The settlement comes after a 2019 campaign allegedly aimed at silencing the couple's critiques of the company, with the journalists set to receive compensation.
Physical Games Are “Irrelevant” To GameStop’s Business, Says CEO
GameStop CEO Ryan Cohen stated that physical games are irrelevant to the company's business, with software now making up less than 12% of revenue while collectibles and hardware comprise the majority. He expressed indifference to PlayStation's potential shift away from physical discs, emphasizing the company's focus on other revenue streams like collectibles and his ambition to acquire eBay.
You Can Now Order Games And Consoles From GameStop With Uber Eats
GameStop has partnered with Uber Eats, allowing customers to order games, consoles, and collectibles through the delivery app. This collaboration expands Uber Eats' retail offerings, which already include stores like Best Buy and Target. The article also touches on GameStop CEO Ryan Cohen's ongoing pursuit of acquiring eBay and the potential impact of Sony phasing out physical game discs on GameStop's business model.
GameStop CEO Came Up With Plan To Buy eBay On The Toilet, Wants It To Become Re-Seller Of Digital Gaming Items
GameStop CEO Ryan Cohen has proposed acquiring eBay for $56 billion, outlining a vision that includes creating a marketplace for digital gaming items like skins and weapons. While eBay has rejected the offer, Cohen believes this market has massive potential utility beyond physical collectibles. He also plans to cut costs and expand live commerce if the takeover is successful.
GameStop (GME) increases eBay stake to 6.5% despite rejected acquisition proposal
Video game retailer GameStop has increased its stake in eBay to 6.5%. This move comes despite a previously rejected acquisition proposal between the two companies.
Politicians accuse Rockstar of obstructing legal process, eBay rebuffs GameStop, and video game hardware screams now - Patch Notes #52
This week's Patch Notes covers several key industry events, including politicians accusing Rockstar Games of obstructing legal processes related to union-busting allegations for Grand Theft Auto 6. eBay rejected a takeover bid from GameStop, while Nintendo cited geopolitical and technological factors for its Switch 2 price increases. Additionally, Subnautica 2 achieved over a million sales in its first hour, and Valve's new Steam Controller features an audible alert when dropped.
'Your proposal is neither credible nor attractive:' eBay rejects GameStop takeover bid
eBay has rejected an unsolicited takeover proposal from GameStop, with the eBay board stating the offer was neither "credible nor attractive." GameStop CEO Ryan Cohen's proposal, valued at $55.5 billion, was met with skepticism regarding its financing. eBay's board cited concerns about financing uncertainty, impact on long-term growth, and operational risks as reasons for rejection.
eBay rejects acquisition proposal from GameStop (GME)
GameStop CEO Ryan Cohen's unsolicited proposal to acquire eBay was rejected by the company. The proposal was made by Cohen in his capacity as CEO of GameStop.
eBay has rejected GameStop’s takeover bid and says offer not “credible”
eBay has rejected GameStop's $56 billion takeover bid, stating the offer is neither credible nor attractive. eBay's chairman, Paul Pressler, expressed confidence in the company's current management and its ability to drive sustainable growth. Analysts have expressed skepticism about the feasibility of GameStop's bid for a company significantly larger than itself.
"Your Proposal Is Neither Credible Nor Attractive" - eBay Rejects GameStop's Takeover Bid
eBay has officially rejected GameStop's $55.5 billion takeover bid, with Chairman Paul S. Pressler stating the proposal was "neither credible nor attractive." The company cited concerns about financing, operational risks, and eBay's standalone prospects. GameStop CEO Ryan Cohen previously expressed a desire to make eBay a stronger competitor to Amazon.
'Your Proposal Is Neither Credible Nor Attractive': eBay Rejects GameStop's 'Unsolicited' Acquisition
GameStop's unsolicited acquisition proposal for eBay, valued at approximately $56 billion, has been firmly rejected by eBay's Board of Directors. Chairman Paul S. Pressler cited several reasons for the rejection, including the lack of credibility and attractiveness of the proposal, uncertainty regarding financing, and potential negative impacts on eBay's long-term growth and profitability. The market has also expressed skepticism about GameStop's financial capability to complete such a transaction.
eBay shoots down 'neither credible nor attractive' $56 billion GameStop offer from CEO who says 'I'm…
eBay has rejected a $56 billion acquisition offer from GameStop, stating the proposal was neither credible nor attractive. GameStop CEO Ryan Cohen expressed his determination to pursue the deal despite eBay's rejection. eBay's board cited the company's strong performance and strategic focus as reasons for declining the offer.
eBay rejects GameStop's offer, calling it 'neither credible nor attractive'
eBay has rejected a takeover offer from GameStop, stating that the proposal was neither credible nor attractive. This rejection could potentially lead to a hostile takeover attempt by GameStop.
eBay Rejects GameStop CEO Ryan Cohen's $56 Billion Offer to Buy the Company, Calls It 'Neither Credible nor Attractive'
eBay has officially rejected a $56 billion offer from GameStop CEO Ryan Cohen to purchase the company. eBay's board deemed the offer neither credible nor attractive.
eBay's Rejection Letter To GameStop's $56 Billion Bid Pulls Absolutely No Punches
eBay has officially rejected GameStop's $56 billion bid to acquire the company, citing concerns about GameStop's ability to finance the deal and the potential negative impacts on eBay's long-term growth. The eBay board deemed the proposal neither credible nor attractive, stating that eBay is performing well independently. GameStop CEO Ryan Cohen may still attempt a hostile takeover by appealing directly to eBay's shareholders.
Business and Finance
Sony reported a significant $560 million loss related to its acquisition of Bungie, with the game Marathon experiencing development stalls. Separately, GameStop's CEO faced suspension from eBay for selling items on the platform to fund his eBay purchases.