ChainThink report: GameStop CEO Ryan Cohen is planning to make an acquisition offer for eBay, a US$45 billion e-commerce platform, aiming to transform it into a trillion-dollar retail giant, while GameStop’s current market cap stands at around US$11 billion.

Insiders reveal that GameStop has quietly increased its stake in eBay and may submit a formal offer as early as later this month; if rejected by eBay’s board, Cohen could launch a direct tender offer to eBay shareholders.

According to market data, following the news, eBay’s post-market stock surged over 10%, with GameStop rising approximately 5% in tandem.

Cohen explicitly stated earlier this year that he is actively scouting major M&A targets in the consumer and retail sectors to expand GameStop beyond video games and collectibles.

As of end-March, GameStop held approximately US$9 billion in cash, a significant increase from US$4.8 billion a year ago, providing strong financial backing for this potential acquisition.

eBay’s stock has gained over 50% in the past 12 months and recently acquired the secondhand fashion platform Depop for US$1.2 billion in February.

GameStop investor and real-life inspiration behind the film "The Big Short," Michael Burry, publicly urged the company to pursue transformative acquisitions using its cash reserves.

Since joining the board and ascending to Chairman in 2021, Cohen has cultivated a loyal following through his promise to reverse the company’s decline and is expected to leverage his online fanbase to generate momentum for this transaction;

his compensation package includes the potential for up to US$35 billion in stock rewards upon achieving milestones such as driving GameStop’s market capitalization to US$100 billion.