GameStop Corp. (NYSE:GME) is back in focus Monday after the company disclosed a 9.8% stake in eBay Inc. (NASDAQ:EBAY) on Friday, reigniting attention on its pursuit of the e-commerce platform.
eBay stock is trading at elevated levels. Where is EBAY stock headed?
GameStop Boosts eBay Stake to 9.8%
According to a regulatory filing made late Friday, GameStop now owns 43.4 million shares of eBay, representing a 9.8% stake in the company — a sharp increase from the 5% economic stake CEO Ryan Cohen initially disclosed when he approached eBay’s board in May. GameStop acquired more than 3.5 million shares for $381.3 million between June 8 and June 15, followed by roughly 39 million additional shares through put/call pairs on June 17.
Cohen Vows to Pursue eBay Deal
