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eBay Nukes GameStop CEO’s Account After Buyout Stunt

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eBay Nukes GameStop CEO’s Account After Buyout Stunt

GameStop CEO Ryan Cohen revealed on X that his eBay account was suspended after he listed a pair of “used socks” on the auction website, a publicity stunt that comes as he pursues a $56 billion bid to acquire the online marketplace.

Cohen listed a pair of used socks on his eBay account, but it appears he also listed other items, as the warning notification in the screenshot he posted on X shows: “You’ve reached the amount ($50,000) you can list this month.”

Hours after he shared a screenshot of his used socks eBay listing on X, he posted late Wednesday that his account “has been permanently suspended.”

Cohen’s eBay ban comes days after he made a $56 billion buyout bid for eBay, funded by “half cash, half stock.”

On Monday, Cohen joined CNBC’s Andrew Sorkin to discuss GameStop’s bid for eBay.

Sorkin asked Cohen, “How does the math work for you?”

That was the moment Cohen provided little information on the basic math, instead referring back to a press release, as well as the $20 billion financing letter from TD. That interview raised more financing questions, with some believing the takeover bid for the auction site was merely a stunt.

“Big Short” investor Michael Burry went from saying “GameStop Makes Its Play $56 Billion for eBay, Makes Perfect Sense” one day, to exiting his long GameStop position the next day, citing: “Wall Street does indeed mistake debt for creativity, and does so constantly. I of all people should have known.”

As we pointed out earlier in the week, Wall Street analysts were widely skeptical of the financing deal, given that eBay’s market cap is 4 times that of GameStop’s.

GameStop’s 13D filing shows Cohen’s eBay position: derivatives, or option calls, represent 99.89% (22,176,000 shares) of its $EBAY position.

Certainly, Cohen is attention-seeking… Was the stunt all about trying to cash in on eBay call options?

Tyler Durden Thu, 05/07/2026 – 10:40


Source: https://freedombunker.com/2026/05/07/ebay-nukes-gamestop-ceos-account-after-buyout-stunt/


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