GameStop reportedly wants to buy eBay, a marketplace with four times its market value

Physical game stores are few and far between these days, but hit up enough American malls and you're bound to find a GameStop or two tucked between Rainforest Cafes. While it might be a tough time to be in the videogame retail business, CEO Ryan Cohen has big plans for GameStop that, according to a report from the Wall Street Journal, end with it as a "$100-billion plus juggernaut."

The report states that the next step in Cohen's designs is to make an offer for eBay—the digital marketplace that is not only for all sorts of non-videogame things, but also has over four times the market value of GameStop. Naturally both stocks are up following the release of this news, which WSJ attributed to "people familiar with the matter."

It lines up with something Cohen told the Journal earlier this year: that he was planning to acquire a big company in a bold gambit that was "either going to be genius or totally, totally foolish." It's no secret that GameStop is small potatoes next to eBay, which raked in $11.1 billion in revenue last year.

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For comparison, GameStop's net sales in 2025 came out to $3.6 billion, down from the year prior, though the company did see an operating income of $232.1 million—a recovery from years spent in the red. Still, it's been a tumultuous time for the gaming retailer; it closed over 400 locations in the U.S. just earlier this year. Its recent attempts to stay in the public eye have yielded antics like the employee-maligned "Trade Anything Day" and some godawful Trump memes on X.

It's not clear what GameStop's offer entails specifically, or what Cohen's vision for the retailer is if this does or doesn't work out. A peek at his X account only reveals jokes about DEI, reactionary jeering, and more of those truly noxious Trump memes.