GameStop Raises eBay Stake to 6.6% as Takeover Ambitions Remain in Focus

GameStop has increased its ownership position in eBay to approximately 6.6%, up from around 5%, according to a regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC) on Wednesday.

The filing revealed that GameStop’s holdings include 25,000 directly owned common shares, alongside additional exposure through put and call option positions. Combined, these holdings represent roughly 6.55% of eBay’s outstanding shares.

Increased Stake Fuels Speculation Around Potential eBay Acquisition

The move comes weeks after Ryan Cohen, CEO of GameStop, made an unexpected proposal to acquire eBay in a deal reportedly valued at around $56 billion.

The offer surprised investors, particularly because eBay’s market size is roughly five times larger than GameStop’s.

eBay rejected the acquisition proposal, describing it as neither credible nor attractive.

Ryan Cohen Signals Continued Commitment to Acquisition Strategy

Despite the rejection, Ryan Cohen has publicly stated that he remains committed to pursuing the acquisition plan.

According to previous comments, Cohen may seek alternative approaches, including taking the proposal directly to shareholders if necessary.

Market analysts believe increasing GameStop’s ownership stake could strengthen its position and potentially support future actions such as requesting a special shareholder meeting.

The larger stake has reignited speculation about whether GameStop intends to increase pressure on eBay’s leadership over time.

eBay Shares Outperform While GameStop Faces Long-Term Challenges

eBay stock has performed strongly in 2026, rising approximately 35% year-to-date. Investor optimism has been supported by stronger first-quarter earnings and increased focus on higher-growth categories, including collectibles.

Meanwhile, GameStop shares have gained roughly 9% this year, although the stock remains down around 65% since Ryan Cohen became chairman in 2021.

The contrast highlights differing investor sentiment between the two companies despite GameStop’s continued interest in expanding influence over eBay.

What a Larger eBay Stake Could Mean Going Forward

GameStop’s increased investment suggests the company may not be stepping away from its acquisition ambitions.

Whether the larger stake becomes a strategic investment, an activist push, or part of a broader takeover effort will likely remain a key focus for investors in the coming months.

For now, markets will closely monitor any further moves from Ryan Cohen and GameStop regarding eBay.