GameStop is hiring a "private project manager" for CEO Ryan Cohen to handle personal home remodels or relocations. Other recent job listings include a home assistant to book travel (commercial or private) and an executive project manager.
GameStop (NYSE: GME) opened in the “red” this morning after Big Short investor Michael Burry confirmed he's cut his entire stake in the gaming merchandise retailer. The subsequent downward pressure has GME challenging its 100-day moving average (MA) today – with a decisive break below $23 expected to accelerate bearish momentum in the near-term.
eBay received a $125/share buyout proposal from GameStop, valuing the company at $55.5 billion, but the market remains unimpressed. The proposed deal is 50% cash, and 50% GameStop stock, requiring significant debt and dilution, with unclear business synergies and heavy reliance on cost cuts. GameStop's plan centers on $2 billion in annualized cost reductions for EBAY, risking long-term growth by slashing marketing and product development.
On Monday, May 4, the legendary ‘Big Short' trader Michael Burry seemingly cast his vote of no confidence regarding Ryan Cohen's latest ambitious corporate acquisition bid.
The $56 billion bid is another sign that the credit mania continues.
How do you turn a shrinking video game retailer into a serious competitor of everything-store Amazon? Be niche, according to GameStop CEO Ryan Cohen.
GameStop's CEO had an awkward CNBC interview. At various moments, the hosts laughed, exhaled, or raised their eyebrows.
Traders on prediction markets platform Kalshi give the video game retailer just a 26% chance at successfully completing an acquisition in 2026. GameStop CEO Ryan Cohen in an appearance on "Squawk Box" didn't disclose further details about how it plans to finance its proposal.
GameStop has crafted a takeover bid where it can win even if it loses the deal.
GameStop, an $11 billion company, is offering $56 billion in cash and stock for a $45 billion rival.
The company's valuation is currently hovering around $48.8 billion following the Monday stock surge. Meanwhile, GameStop's shares were down more than 8%, dropping its market cap below $11 billion – meaning it is far smaller than its acquisition target.
Once a struggling brick-and-mortar retailer, GameStop is now swinging for a much bigger stage. GameStop NYSE: GME CEO Ryan Cohen made his move, announcing the intended acquisition of eBay NASDAQ: EBAY, but now faces many challenges.