Overview
GameStop (GME) has increased its ownership in eBay (EBAY) to 9.8 percent, according to the company’s most recent regulatory filing. The stake is part of a hostile takeover effort spearheaded by CEO Ryan Cohen, a campaign that Kotaku described as “quixotic” and “ratcheted up a notch.”
Stake Acquisition
9.8 % of eBay’s outstanding shares are now held by GameStop.
The filing signals a deliberate push by Cohen to gain influence over eBay’s board and strategic direction.
“GameStop CEO Ryan Cohen’s quixotic campaign to take over eBay has ratcheted up a notch.” – Kotaku, July 18 2026
Market Implications
Confirmed details
The near‑10 % holding gives GameStop a meaningful voting bloc that could be leveraged in a proxy fight.
The move represents a strategic pivot for GameStop, historically a brick‑and‑mortar video‑game retailer, toward broader e‑commerce exposure.
Analyst perspective
A hostile acquisition of a company the size of eBay would require additional capital and broader shareholder support, factors not disclosed in the filing.
The pairing of a “meme stock” retailer with a mature online marketplace raises execution risk and may attract regulatory scrutiny.
Early market reaction has been muted; eBay’s share price showed little movement following the disclosure, indicating investors are awaiting further cues.
Outlook
The development highlights a growing trend of activist investors targeting established e‑commerce platforms. If GameStop expands its stake or initiates a formal proxy contest, both stocks could experience heightened volatility and trigger governance reviews at eBay.
Source: Kotaku, “GameStop Now Owns Nearly 10% Of eBay In Hostile Takeover Plan That No One Can Make Sense Of,” July 18 2026.