Shares of GameStop, known for its meme rally, jumped after news of interest in eBay

Shares of GameStop, a US video game store chain, rose nearly 6% in extended trading on Ma 1. The reason could be the report of The Wall Street Journal sources that GameStop is preparing an offer to buy online marketplace eBay. Shares of eBay were up more than 13% in after-market trading.

The video game seller could make an offer for eBay later in May if it doesn't abandon its plans, sources told WSJ. If eBay management does not agree to the deal, GameStop CEO Ryan Cohen may make an offer directly to the marketplace's shareholders, the newspaper said. Other details of the possible deal, including its value, WSJ could not find out.

GameStop, with a market capitalization of about $11 billion (as of the close of trading on Friday, May 1), has been gradually buying eBay stock in anticipation of a potential deal, WSJ sources say. Meanwhile, eBay is about four times more valuable than GameStop, with a market value of about $45 billion.

Cohen told the WSJ in January that he was considering options for acquisitions. His pursuit is backed by GameStop investors, including Michael Burry, who became the prototype for the protagonist of the movie "The Game Down," the WSJ noted. Burry disclosed an investment in GameStop in January 2026, and wrote in February that Cohen wants to replicate billionaire Warren Buffett's strategy at Berkshire Hathaway: use a dying asset as a shell for capital formation and large-scale deals. Transforming a retailer into an investment holding company can only be done through a series of aggressive deals, Burry argued at the time. He named three possible targets for buying GameStop, but eBay was not among them.

GameStop shares ended Friday's main trading up 6.3%, and since the beginning of 2026, they have risen 32%. In late March, Wedbush analysts maintained an Underperform rating for the company's stock ("below market", corresponding to a sell recommendation), but raised the target price from $11.5 to $13.5. This is 50% lower than the closing price on Ma 1.

eBay's stock rose 0.6% on Ma. 1 and has added 19.5% since the beginning of the year. Most analysts tracking the stock advise holding it: it has 23 Hold ratings, MarketWatch shows. Ten more recommend Buy (Buy and Overweight), and two recommend Sell (Sell and Underweight).

This article was AI-translated and verified by a human editor