7 ms·
GameStop Preparing Offer for eBay
- love2read 5mo agoBed Bath and Beyond preparing offer for Costco /s
- huhkerrf 5mo agoTime ticks for everyone... One day some company will be buying the remains of Amazon.
- applfanboysbgon 5mo ago> GameStop, which had a market value of around $11 billion [...] EBay is several times GameStop’s size, with a market value around $45 billion as of Friday’s close. > Details of the potential offer for eBay couldn’t be learned. This appears to be an attention stunt, of which Cohen has done a few since GME became a meme stock.
- voisin 5mo agoNot necessarily a stunt if they’ve taken a meaningful stake. Smaller companies can acquire larger ones. Market cap reflects equity, not enterprise value. If the target has low debt, the deal can be financed with borrowing. The 1980s LBO wave, led by Michael Milken, is a clear precedent.
- Esophagus4 5mo agoI’ve searched the net to find the example, but I remember this happening during the dot com era too… Some unknown tiny company made an offer to takeover Yahoo (or some similar company)… the tiny company made headlines for a moment then disappeared again. It was an example of dot com silliness. Can’t for the life of me remember, and Google can’t seem to either.
- iknowSFR 5mo agoMaybe but we have a recent sample of Paramount ($12b) acquiring WB ($62b).
- applfanboysbgon 5mo agoThat would be more accurately described as Larry Ellison (~$200b) acquiring WB.
- sheepscreek 5mo agoWho gave it in writing that he can back the deal if need be.
- sanswork 5mo agoIn that case though Paramount offloaded 25% to foreign wealth funds and had Larry Ellison willing to provide guarantee on(according to google) almost $50b of debt. Ryan Cohen is rich but he's not that rich.
- weard_beard 5mo agoI believe it was this time last year Ryan had a sit down with the Qatari sovereign wealth fund.
- aurareturn 5mo agoBesides the Larry Ellison, Trump, and Middle East backing, Paramount and WB's businesses have synergy. Gamestop and eBay have no synergy. Gamestop can't possibly run eBay better than eBay's current management. It's a meme stock looking to make noise so they can get a higher stock price, and then unload their shares onto the public market to raise cash. GME has 3x'ed their shares outstanding since Covid. https://www.macrotrends.net/stocks/charts/GME/gamestop/shares-outstanding https://www.macrotrends.net/stocks/charts/GME/gamestop/share...
- mattmaroon 5mo agoYeah I don’t blame them. They didn’t create the meme but once it happened, any responsible leader would start doing secondary offerings to raise money. I sure would. If morons want to keep investing in the stock of a company that has no other chance of survival, great. Now they’ve got $9 billion on hand and they’ve had time to find a niche, right-size, and the interest on the cash pile is great too.
- v4dm 5mo ago[flagged]
- Forgeties79 5mo agoNFT’s and crypto nonsense, for starters. Go look him up and what he has done at GameStop. He’s not exactly shy about his plans and likes to make dramatic statements.
- v4dm 5mo ago[flagged]
- theshackleford 5mo ago> are you trolling? Are you? https://finance.yahoo.com/markets/crypto/articles/gamestop-dispels-rumours-sold-324-135000050.html https://finance.yahoo.com/markets/crypto/articles/gamestop-d... You sound quite defensive. Are you a GME bagholder?
- v4dm 5mo ago[flagged]
- thrwaway55 5mo agoOh come on now, you know you are arguing in bad faith. Explain how the BTC in anyway synergized and drove value for anything GME did. MSTR has a BTC leverage angle that GME has never had so it's not even an apt comparison.
- JumpCrisscross 5mo ago> If you think buying BTC is crypto nonsense just wait until you hear about another public company, MSTR This is in bad faith. You said “GameStop has no crypto, are you trolling?” You were presented with refuting evidence. Now you’re shifting the goal posts.
- weard_beard 5mo agoThe attention stunts were a strategy toward finding profitability for the core GME business model. This is significantly different, in line with a strategy that seems to have been in place since he became CEO of Gamestop. This appears to be an attempt to take over eBay the same way he took over Gamestop by acquiring a 51% controlling interest with capital he will raise by further diluting the value of Gamestop shares. It appears long term he is trying to build the, "Amazon of the secondhand market".
- Triphibian 5mo agoI remember showing up to buy a new Call of Duty game on release day, back when physical was the only way to buy games and seeing tons of people with boxes full of old games and consoles. I realized then that GameStop's differentiation from other retailers was that it was also a kind of pawn shop.
- semperdark 5mo agoHowever GameStop does have like $9 billion in cash on hand if I recall correctly.
- JumpCrisscross 5mo agoTo be clear, if GameStop has no intent or ability to do the things they’re saying they’re going to do, as a public company in respect of another, that’s all kinds of securities fraud and shareholder-lawsuit catnip. Put another way, if you think this is fake you could make a lot of money. Because that would mean GameStop is de facto offering the market a free put on its own and eBay’s stock.
- aurareturn 5mo agoThis probably would have been investigated in the 2010s. Since covid, security fraud seems to be rampant. Gamestop is just in the business of selling their shares to retail. It's pretty much like a crypto shitcoin.
- v4dm 5mo agoRyan Cohen rarely does interviews & Lauren Thomas is one of the few journalists he agreed to speak to, they had an interview earlier this year - https://www.wsj.com/finance/stocks/gamestop-ceo-plans-e8440c4b https://www.wsj.com/finance/stocks/gamestop-ceo-plans-e8440c... If you check eBay & GME's stock prices after the announcement, the market seems to think there are at least serious discussions here if not more.
- deleted 4mo ago[deleted]
- surgical_fire 5mo agoGME stock price is not really a reliable metric for measuring the seriousness of anything.
- v4dm 5mo ago...because you decided so?
- surgical_fire 5mo agoApologies. Maybe you just came out of a coma that spans half a decade and is unaware of the events surrounding GME stock. It's a bit of a rabbit hole, but this is a good place to start: https://youtu.be/5pYeoZaoWrA?si=3YZ1SpRxOB9sglVG https://youtu.be/5pYeoZaoWrA?si=3YZ1SpRxOB9sglVG
- afavour 5mo agoDoes “the market” not mean meme stock investors in this instance though?
- v4dm 5mo agoHeadline-driven market is a thing, not sure why meme stock investors are part of this? How are they connected to this news? Also, what's a meme stock? How would you define that?
- lofaszvanitt 5mo agoso price manipulation
- estimator7292 5mo agoBest I can do is three dollars
- SMAAART 5mo agoHistory rhymes, same playbook as https://en.wikipedia.org/wiki/MCI_Inc https://en.wikipedia.org/wiki/MCI_Inc.
- phplovesong 5mo agoLOL. Ebay is like 50-100x bigger than memestock. This is fake news, or just some bs some ceo said drunk.
- neilv 5mo agoWhatever you do, don't break eBay. I love eBay, for both buying and selling used items that are viable to ship. We let CraigsList get broken, with seemingly much fewer sellers and buyers than it used to have. I tried Facebook Marketplace, which is where most local buyers&sellers seemed to move to. But I won't install their app, and the notification emails only sometimes came through. (One buyer became very irate when I didn't respond promptly.) Also, their pretend E2E encryption for messages on their Web site was just annoying (like a dark pattern intended to make people hate E2E, while not actually providing any significant security).
- sethops1 5mo agoeBay has been a savior for me buying for buying old / replacement parts. No idea where some of these sellers get their inventory but I'm so glad they exist and we can both use eBay to transact.
- qingcharles 5mo agoIf only eBay would fix their search. In the old days the search modifiers actually did what you think they should do. It's been broken for over 20 years now.
- neilv 5mo agoWhat search modifiers? I regularly use minus, double-quotes, and parentheses, and they all work well for me. The main thing I dislike about eBay search is all the sponsored placements violating the sorting order. For example, if you sort on increasing price, sponsored placements not in the specified sorting order litter that heavily, making it hard to follow. Amazon searches have the same problem. (Problem, from the perspective of buyer-on-the-marketplace.) The other thing I dislike about both eBay and Amazon searches is the spamming of huge numbers of listings for essentially the same item. I notice it more on Amazon than eBay.
- qingcharles 5mo agoThe minus, double-quotes and parentheses work in many situations, but not in all situations, all of the time. They used to be deterministic. Just this week I found some more searches where wrapping a specific two-word phrase in quotes would actually remove half of the auctions that had that exact phrase in the title. And others where minusing out a term stubbornly refused to remove it. The worst thing is when you are searching for an item, but most of the listings are those "multiple different specification" listings. e.g. a seller has 8GB, 16GB and 32GB USB sticks. It's almost impossible to compare listings and the price you see is clickbait because once you click through you find the thing you were searching for is several times higher. I wrote a bookmarklet to remove all these, but that's not ideal because it can over-correct.
- xiphmont 5mo agoOh no. Please, please don't let eBay get Boeing'd.
- satvikpendem 5mo agoI wonder how those bagholders are feeling now, still diamond hands holding to the moon? Hell, there are still Bed Bath and Beyond and even Sears bagholders somehow thinking they'll get back money from a bankrupt and dissolved company, so I can't be too surprised. https://reddit.com/gallery/1t1aeky https://reddit.com/gallery/1t1aeky
- tim-tday 5mo ago“Best I can do is $1.25 not a lot of demand for used” <squints at the package> “online marketplace sites.”
- phendrenad2 5mo agoProbably a good time to scrape eBay and collect all of the seller ratings in a big Excel file before GameStop knows what's happening. There will be a market for an EBay that isn't pushing you to buy Pokemon cards or Funko Pops every 5 seconds, but you need that list.
- bookofjoe 5mo agohttps://www.wsj.com/business/deals/gamestop-preparing-offer-for-ebay-1678e6de?st=yaQ2QD&reflink=desktopwebshare_permalink https://www.wsj.com/business/deals/gamestop-preparing-offer-...
- giannicmptr1000 5mo agoebay is the worst, they might as well buy shein
- fHr 5mo agoThis is so fucking retarded but the k(etamine) market will say sure that makes sense pump and dump it and quants will make millions.
- 4b11b4 5mo agoThere's no way GameStop is buying eBay... This is noise. eBay is actually a competent engineering organization