GameStop’s May 2026 non-binding $55.5 billion bid for eBay at $125 per share was swiftly rejected by eBay’s board as neither credible nor attractive, citing financing doubts and the acquirer’s smaller scale. GameStop holds a roughly 9.8% eBay stake valued near $4.9 billion, yet its market capitalization remains far below the target’s, while 59 million warrants set to expire October 30 at a $32 strike trade well underwater at current GME levels around $23. Recent insider purchases by CEO Ryan Cohen signal continued interest, but the absence of a revised offer or partnership advancement has anchored trader sentiment toward no completed acquisition. A sustained GME rally above $32 or new financing commitments could reopen possibilities before year-end.