Wall Street awaits GameStop CEO Cohen's next move after eBay rejected takeover bid - Reuters
Consumer
GameStop's Ryan Cohen bid $125/share for eBay; eBay's board has rejected the takeover proposal after a 'thorough review.' The rejection leaves Cohen's next move — higher bid, hostile campaign, or retreat — as the key binary, while eBay insiders sold 15 shares in the last 30 days suggesting limited internal conviction that a deal gets done at any premium.
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↓ SHORT-15% target+8% stop2-3 weeks into next Cohen announcement or GME update
Short GME into resolution — Cohen's $125 eBay gambit is rejected, GME's balance sheet gets stress-tested, and the stock has no analyst support to cushion downside if the deal narrative deflates.