GameStop Corp (NYSE:GME) shares are jumping Wednesday after a new filing revealed that the company has increased its ownership stake in eBay Inc (NASDAQ:EBAY) to roughly 6.6% from about 5%. The move escalates CEO Ryan Cohen's ongoing push to acquire the e‑commerce company.
GameStop stock is building positive momentum. Why are GME shares climbing?
Something went wrong.
GameStop Boosts Its Stake In eBay
A new SEC filing showed that GameStop now controls about 6.55% of eBay's outstanding shares when including both common stock and shares tied to put and call options. The increase follows Cohen's unsolicited attempt earlier this month to buy eBay for roughly $56 billion.
