← eBay overview

eBay vs GameStop: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

eBay Inc (EBAY)

Q3 2026
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eBay Surges on UK Fee-Free Test, Resale Growth, and Depop Deal

  • UK Fee-Free Experiment Drives Stock Surge eBay's UK fee-free experiment drove a 52% stock surge, signaling a major strategic shift that could boost seller activity and buyer demand.

    This was the primary catalyst for the stock's strong performance in Q3.

  • Strong Q2 Earnings and Depop Acquisition Clearance Q2 revenue rose 15% to $3.13B with net income up 51%, and regulators cleared the $1.2B Depop acquisition, reinforcing growth prospects.

    These financial results and regulatory approval provided fundamental support for the stock.

  • Resale Growth Accelerates eBay Live volume rose 8x, with collectibles and fashion exceeding 70% of sales and growing over 20% annually, highlighting strong momentum in high-margin categories.

    This demonstrates eBay's successful focus on resale and live commerce, driving future growth.

  • GameStop Hostile Bid Creates Uncertainty GameStop's hostile bid created board uncertainty before fading, removing a takeover premium and risking a pullback, though GameStop retains a $4.9B stake.

    This event introduced volatility and potential downside risk to the stock.

August 2026
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GameStop bid fades, but eBay's resale growth engines accelerate

  • GameStop buyout bid fades GameStop's $56B hostile bid is fading as CEO Ryan Cohen considers a partnership instead, removing the takeover premium that had lifted eBay shares and risking a pullback.

    This is the biggest new event, directly affecting eBay's price by removing a takeover premium.

  • GameStop still holds big stake GameStop still owns a $4.9B eBay stake, making it the second-largest shareholder, which signals confidence in eBay's future even as the buyout bid fades.

    This counterbalances the negative bid news and shows continued investor confidence.

  • Depop acquisition and resale growth eBay acquired Depop from Etsy, expanding in resale fashion. eBay Live volume rose about 8x, and collectibles and fashion now exceed 70% of sales, growing over 20% annually.

    These are new growth drivers that strengthen eBay's core resale business.

  • Q2 beat but stock fell; airbag ban eBay beat Q2 estimates but the stock fell on worries about durability and competition. eBay also banned airbags after counterfeit parts appeared, a small volume negative but reducing liability.

    This shows mixed signals: strong results but market skepticism, plus a regulatory action.

Latest
▲2▼1

eBay's resale and live-shopping bets grow as takeover premium fades

  • Live shopping and resale categories are eBay's real growth engine eBay Live's sales volume jumped about 8 times from a year ago, and sellers who stream sell roughly 3 times more. Collectibles and fashion now make up over 70% of sales and are growing more than 20% a year. This is the core reason eBay can keep growing even without a takeover.

    It shows the underlying business demand that supports eBay's value beyond deal speculation.

  • eBay keeps investing in fashion and Depop to reach younger buyers eBay named a new global head of fashion to run its luxury and non-luxury clothing business and work closely with Depop, the secondhand fashion site it bought from Etsy. This builds on the resale push that management says is driving growth, a positive for long-term revenue.

    It shows concrete follow-through on the Depop acquisition and fashion strategy that earlier reports flagged.

  • Q2 beat wasn't enough; stock fell on growth and competition worries eBay beat revenue and profit estimates but the stock dropped from $111.15 to $106.31 as analysts questioned how long the growth can last and how much competition is coming from other consumer-to-consumer platforms. A beat that still sells off shows investors want more proof the growth is durable.

    It captures the market's skeptical reaction to eBay's results and the key risks analysts raised.

  • eBay bans airbag listings after counterfeit parts expose safety gaps eBay banned airbags and inflators after dangerous counterfeit parts were found on its marketplace. The ban removes some automotive parts sales but cuts liability and refund risk. It is a small negative for volume and a small positive for safety and legal exposure.

    It is a new regulatory and safety action that affects eBay's marketplace operations and risk profile.

▲2▼2

GameStop's eBay stake grows, but takeover bid fades

  • GameStop may drop its $56B eBay bid GameStop CEO Ryan Cohen is considering withdrawing his $56 billion buyout offer for eBay, possibly seeking a partnership or joint venture instead. Without a takeover bid, eBay loses the buyout premium that had lifted its stock, so the shares could fall back toward where they traded before the offer.

    This is the key new event that removes the takeover premium supporting eBay's price.

  • eBay buys Etsy's Depop, expanding its marketplace eBay acquired Depop from Etsy, adding a popular secondhand fashion marketplace to its portfolio. This grows eBay's reach in resale and could boost long-term revenue and user growth, a positive for the stock even though the price paid wasn't disclosed.

    This is a new strategic acquisition that directly affects eBay's business and growth outlook.

  • GameStop's $4.9B eBay stake signals confidence GameStop disclosed it owns about 43.4 million eBay shares worth roughly $4.9 billion, making it eBay's second-largest shareholder. That large, committed stake shows strong outside belief in eBay's value and could support the stock by reducing the number of shares available to trade.

    This new disclosure highlights a major shareholder's confidence and potential support for eBay's stock.

  • Cohen buys more GameStop stock, not eBay Ryan Cohen spent $26.4 million buying more GameStop shares, raising his personal stake past 40 million shares. This suggests his focus is shifting back to GameStop rather than pursuing eBay, making it less likely he'll raise his eBay offer and weakening the takeover premium in eBay's stock.

    This new insider buying shows Cohen's priorities may be moving away from an eBay deal.

July 2026
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eBay's UK fee-free push and Depop win offset by GameStop, Meta threats

  • UK fee-free experiment drives 52% stock surge eBay's UK test of scrapping selling fees for casual sellers sent the stock up 52%, showing its consumer-to-consumer turnaround is working and boosting investor confidence.

    This is the biggest positive force behind eBay's price move in the period.

  • Q2 beat and UK clears Depop deal Q2 revenue rose 15% to $3.13B and net income jumped 51%, beating estimates, while UK regulators cleared the $1.2B Depop acquisition, supporting growth plans.

    Strong earnings and a cleared acquisition are key positive drivers for the stock.

  • GameStop stake and hostile bid create uncertainty GameStop built a roughly 10% stake and made a $125-per-share hostile bid, creating board uncertainty, though Wedbush doubts it succeeds. This weighs on the stock.

    This is a major new risk factor that pressured eBay's price during the period.

  • Meta Seller app and Icahn campaign add pressure Meta's new Seller app threatens eBay's high-margin professional sellers, Wells Fargo downgraded the stock on Depop's 2027 earnings drag, and Carl Icahn is pushing for a PayPal spin-off and board seats.

    These competitive and activist pressures are new negative forces on eBay's outlook.

▼3▲1

eBay's strong Q2 offset by Meta competition and activist pressure

  • Meta's Seller App Threatens eBay's Core Sellers Meta launched a Seller app for Facebook Marketplace, directly targeting eBay's professional sellers with lower fees and AI tools. This threatens eBay's high-margin seller base, pushing the stock down as investors worry about losing market share.

    This new competitive threat directly pressures eBay's core business and was a key driver of the stock's decline this period.

  • Wells Fargo Downgrade on Depop Costs Wells Fargo downgraded eBay to underweight, citing the Depop acquisition will weaken 2027 earnings and require higher marketing spend. This adds to concerns that defending against rivals like Vinted will hurt profits, weighing on the stock.

    The downgrade reflects real concerns about profitability and was a direct catalyst for the stock's drop.

  • Strong Q2 Results and Upbeat Q3 Guidance eBay reported 15% revenue growth to $3.13 billion and 51% higher net income, beating estimates. Q3 revenue guidance also topped expectations, driven by demand for luxury, collectibles, and refurbished goods. This shows the core business is healthy and growing.

    The strong financial performance and guidance are key positives that support the stock's value.

  • Carl Icahn's Activist Campaign Carl Icahn is demanding a PayPal spin-off and board seats, alleging conflicts of interest. This creates uncertainty about eBay's strategy and leadership, which could distract management and unsettle investors.

    Activist pressure introduces strategic uncertainty that can negatively impact investor sentiment.

▲2▼1

GameStop's eBay stake grows, but UK clears Depop and C2C strategy shines

  • GameStop's creeping stake and hostile bid GameStop now owns nearly 10% of eBay and is pushing a $125-per-share hostile bid. This creates uncertainty for eBay's board and shareholders, as a proxy fight or tender offer could disrupt management and distract from operations.

    This is the main source of uncertainty and potential downside for eBay's stock.

  • UK C2C experiment drives 52% stock surge eBay's UK experiment eliminating selling fees for casual sellers led to double-digit growth in consumer-to-consumer sales. This validates eBay's turnaround strategy and shows it can grow profitably, boosting investor confidence.

    This is a major positive catalyst that directly supports eBay's standalone growth story.

  • UK regulator clears $1.2B Depop acquisition The UK competition watchdog approved eBay's purchase of fashion resale platform Depop. This removes a regulatory hurdle and supports eBay's strategy to attract younger shoppers and strengthen its resale fashion business.

    This is a new positive development that advances eBay's growth strategy.

  • Analyst skeptical on GameStop bid, sees eBay reasonably valued Wedbush doubts GameStop's bid will succeed due to a financing gap, noting eBay trades below the offer price. The analyst views eBay as reasonably valued on its own but warns of downside if GameStop walks away.

    This provides a balanced view on the takeover situation and eBay's standalone value.

GameStop Corp. (GME)

Q3 2026
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GameStop's profit surge offset by dilution and shrinking core sales

  • Record profit and raised guidance GameStop posted record profit and raised its outlook, with collectibles reaching nearly half of sales, helped by an Uber Eats deal. This shows the business is becoming more profitable even as it shrinks.

    This is the main positive force behind the stock this quarter.

  • Core sales fall 19–20% Core sales dropped about 19–20% as GameStop closed stores and physical PlayStation discs neared their end. This decline threatens the company's traditional retail business and weighs on the stock.

    This is the key negative fundamental driver this quarter.

  • Share count expansion and debt swap dilute holders Shareholders approved expanding authorized shares to 2.5 billion, and a $1.4 billion debt-for-equity swap diluted existing holders. These moves triggered sharp selloffs because each share now represents a smaller slice of the company.

    This is a major new negative event that directly hit the stock price.

  • eBay bid rejected, removing a catalyst GameStop's $55.5 billion bid for eBay was rejected and faced financing doubts, removing a potential catalyst that had excited investors. The failed deal leaves the company without a major growth path.

    This is a key negative development that changed the investment story this quarter.

August 2026
▲3▼1

GameStop's profit surge and eBay exit offset core sales decline

  • Record profit and raised guidance GameStop reported record quarterly profit of $389.6 million and raised its full-year outlook, showing a sharp turnaround from prior losses.

    This is the main positive force behind the stock's improved outlook.

  • Collectibles boom and Uber Eats deal Collectibles sales jumped 57% to nearly half of revenue, and a new Uber Eats partnership added a delivery channel, diversifying away from physical games.

    These new growth areas are key to offsetting the shrinking core business.

  • Insider buying signals confidence CEO Ryan Cohen and directors bought millions in stock, a sign they believe the company is undervalued and expect better times ahead.

    Insider buying often boosts investor confidence and supports the share price.

  • Core sales shrink and dilution hits stock Core sales fell 20% to $780–800 million amid store closures, and a $1.4 billion debt-for-stock swap diluted shareholders, sending shares down over 10% to their lowest since August 2024.

    This is the main counterweight, showing the retail business still shrinking and dilution hurting investors.

Latest
▲3▼1

GameStop's profit and insider buying rise, but share count grows

  • Record profit and raised outlook GameStop reported record quarterly net income of $389.6 million, helped by cost cuts, higher revenue, and investment gains, and later raised its full-year profit forecast. A more profitable company supports the stock price because investors see a healthier business.

    This is the core reason the company looks financially stronger and supports the stock.

  • Collectibles and Uber Eats expand sales channels Collectibles sales jumped 57% to $356.3 million and now make up nearly half of total sales, while a new Uber Eats partnership offers nationwide on-demand delivery of games and consoles. Both give GameStop new ways to sell higher-margin products.

    These are new growth channels that can lift future sales and profit.

  • CEO and directors buy millions in stock CEO Ryan Cohen bought about $20 million of shares in September and another $10.6 million at month-end, while a director bought 1 million shares. Insider buying signals confidence in the company's future, which often lifts shares.

    Insider purchases are a strong signal of confidence that can support the stock price.

  • Debt-for-stock swap dilutes shareholders GameStop exchanged $1.4 billion of convertible notes for new shares, cutting debt but increasing the share count without raising cash. The stock fell over 10% to its lowest since August 2024 as investors worried their ownership stakes would shrink.

    This is the main counterweight that pushed the stock down during the period.

September 2026
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GameStop's profit surge and insider buying lift GME, but sales still shrink

  • Record Q2 profit and raised outlook GameStop reported record Q2 operating income of $160.2 million and more than doubled adjusted EBITDA, then raised its full-year EBITDA forecast to over $650 million. Higher profit and a brighter outlook make the company look financially healthier, which supports the stock price.

    This is the core new financial result that directly boosts investor confidence and the stock.

  • Collectibles now nearly half of sales Collectibles sales jumped 57% to $356.3 million and now make up 45.1% of total sales, up from 23.4% a year ago. This shift toward higher-margin items is making the core business more profitable, which is a key reason the stock is moving up.

    It explains the improving profit mix that investors are rewarding.

  • CEO and directors buy millions in stock CEO Ryan Cohen bought about $26.4 million of shares, pushing his stake past 40 million, and three directors also bought stock. Insider buying signals confidence in the company's future, which often lifts shares because investors see it as a positive sign.

    Insider purchases are a direct, new signal of confidence that can move the stock.

  • Sales still falling as core retail shrinks Net sales fell 18.7% to $790.2 million, hurt by store closures, the sale of French operations, and last year's Switch 2 launch. The ongoing sales decline shows the traditional retail business is still shrinking, which weighs on the stock and is a real counterweight to the profit gains.

    It provides the necessary balance, showing the main risk that keeps the stock from rising more.

▲3▼1

GameStop's profit surge and insider buying lift GME, but sales still shrink

  • Record Q2 profit and raised outlook GameStop reported record Q2 operating income of $160.2 million and more than doubled adjusted EBITDA, then raised its full-year EBITDA forecast to over $650 million. Higher profit and a brighter outlook make the company look financially healthier, which supports the stock price.

    This is the core new financial result that directly boosts investor confidence and the stock.

  • Collectibles now nearly half of sales Collectibles sales jumped 57% to $356.3 million and now make up 45.1% of total sales, up from 23.4% a year ago. This shift toward higher-margin items is making the core business more profitable, which is a key reason the stock is moving up.

    It explains the improving profit mix that investors are rewarding.

  • CEO and directors buy millions in stock CEO Ryan Cohen bought about $26.4 million of shares, pushing his stake past 40 million, and three directors also bought stock. Insider buying signals confidence in the company's future, which often lifts shares because investors see it as a positive sign.

    Insider purchases are a direct, new signal of confidence that can move the stock.

  • Sales still falling as core retail shrinks Net sales fell 18.7% to $790.2 million, hurt by store closures, the sale of French operations, and last year's Switch 2 launch. The ongoing sales decline shows the traditional retail business is still shrinking, which weighs on the stock and is a real counterweight to the profit gains.

    It provides the necessary balance, showing the main risk that keeps the stock from rising more.

▲3▼1

GameStop drops eBay bid, cuts dilution, profit jumps on eBay stake

  • GameStop may abandon eBay bid GameStop is considering withdrawing its $56 billion bid for eBay, which eBay had rejected. Dropping the deal removes a huge financial risk and uncertainty, so investors see it as a positive for GME shares.

    This is a new development that directly affects GME's capital strategy and investor confidence.

  • Debt swap amended to fix share count GameStop changed its convertible debt exchange to pay $358 million in cash and issue a fixed number of shares, eliminating the threat of more dilution. Fewer new shares means existing owners keep a bigger slice, pushing the stock up.

    This new amendment directly addresses the dilution overhang that previously pressured GME.

  • Q2 profit beats on eBay stake gain GameStop expects Q2 net income of $290–310 million, up from $169 million, thanks to a $238 million gain from converting its eBay stake into shares. Higher profit signals better financial health, lifting the stock.

    This is a new earnings update that shows improved profitability, a key driver for the stock.

  • Sales fall 20% as core business shrinks GameStop's Q2 net sales dropped to $780–800 million from $972 million, hurt by store closures, the sale of French operations, and last year's Switch 2 launch. Falling sales show the core retail business is still shrinking, which weighs on the stock.

    This new data highlights ongoing weakness in GameStop's main business, a counterweight to the profit gain.

July 2026
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GameStop's eBay bid stalls, share count grows, debt swap hits stock

  • Shareholders approve massive share expansion GameStop shareholders approved expanding authorized Class A shares to 2.5 billion, up from a much smaller number. This lets the company issue many more shares, which would dilute existing owners and push the stock down. The vote also came as Sony confirmed it will stop making physical PlayStation discs, hurting GameStop's core business.

    This is a new event that directly increases share supply and signals dilution, a key negative for GME's price.

  • eBay bid faces financing doubts and rejection GameStop's $55.5 billion bid for eBay was rejected by eBay's board, and analysts doubt it can be financed. GameStop has about $9 billion cash plus a conditional $20 billion loan, far short of eBay's size. The market sees low odds of a deal, removing a potential catalyst and weighing on GME shares.

    This is a new development in the eBay saga that reduces the likelihood of a transformative deal, a negative for GME.

  • Debt-for-equity swap triggers sharp selloff GameStop announced it will exchange about $1.4 billion of convertible debt for newly issued Class A stock. This increases the number of shares and dilutes current holders, causing the stock to tumble over 12% on the day. Investors worry about further dilution from future conversions.

    This is a new capital action that directly dilutes shareholders and caused a major price drop, a clear negative driver.

  • GameStop popular on Robinhood's tokenized stock platform GameStop is one of the most traded tokenized stocks on Robinhood Chain, with combined volume of about $47 million for top names. This new way to trade GME 24/7 could attract more investors, especially overseas, and increase demand for the stock over time.

    This is a new demand-side development that could broaden GME's investor base and support its price.

▼3▲1

GameStop's eBay bid stalls, share count grows, debt swap hits stock

  • Shareholders approve massive share expansion GameStop shareholders approved expanding authorized Class A shares to 2.5 billion, up from a much smaller number. This lets the company issue many more shares, which would dilute existing owners and push the stock down. The vote also came as Sony confirmed it will stop making physical PlayStation discs, hurting GameStop's core business.

    This is a new event that directly increases share supply and signals dilution, a key negative for GME's price.

  • eBay bid faces financing doubts and rejection GameStop's $55.5 billion bid for eBay was rejected by eBay's board, and analysts doubt it can be financed. GameStop has about $9 billion cash plus a conditional $20 billion loan, far short of eBay's size. The market sees low odds of a deal, removing a potential catalyst and weighing on GME shares.

    This is a new development in the eBay saga that reduces the likelihood of a transformative deal, a negative for GME.

  • Debt-for-equity swap triggers sharp selloff GameStop announced it will exchange about $1.4 billion of convertible debt for newly issued Class A stock. This increases the number of shares and dilutes current holders, causing the stock to tumble over 12% on the day. Investors worry about further dilution from future conversions.

    This is a new capital action that directly dilutes shareholders and caused a major price drop, a clear negative driver.

  • GameStop popular on Robinhood's tokenized stock platform GameStop is one of the most traded tokenized stocks on Robinhood Chain, with combined volume of about $47 million for top names. This new way to trade GME 24/7 could attract more investors, especially overseas, and increase demand for the stock over time.

    This is a new demand-side development that could broaden GME's investor base and support its price.

Q2 2026
▲2▼1

GameStop's eBay bid advances as profit outlook brightens, but disc phase-out looms

  • GameStop drops $35B CEO pay plan to focus on eBay deal GameStop withdrew a proposed $35 billion pay package for CEO Ryan Cohen, removing a major investor concern and signaling that management is fully focused on acquiring eBay. This reduces uncertainty and could make the eBay deal more likely, which investors see as positive for GME.

    This is a new event that removes a negative overhang and clarifies strategic focus, directly affecting GME's appeal.

  • GameStop forecasts adjusted EBITDA above $600 million for fiscal 2027 GameStop expects adjusted EBITDA to exceed $600 million for the fiscal year ending January 2027, nearly double last year's $345.4 million. This profit outlook shows the core business is improving, which supports a higher stock price.

    This is a new, concrete financial forecast that directly boosts investor confidence in GME's profitability.

  • GameStop vows to pursue eBay acquisition despite board rejection CEO Ryan Cohen said he will not back down from the $125-per-share bid for eBay, even considering a hostile takeover. GameStop already owns about 7.8% of eBay. The deal faces low odds (14% chance) and financing doubts, so it adds both potential upside and risk.

    This is a new development in the ongoing eBay saga, showing determination but also significant obstacles that could hurt GME if the deal fails.

  • Sony to stop making physical PlayStation discs by 2028 Sony will end production of physical game discs for PlayStation in 2028, moving fully to digital. This threatens GameStop's core business of selling new and used physical games, as more than 80% of game sales are already digital. Long-term demand for GameStop's main products shrinks.

    This is a new, industry-changing event that directly undermines GameStop's traditional retail model, a key risk for future earnings.

June 2026
▲2▼1

GameStop's eBay bid advances as profit outlook brightens, but disc phase-out looms

  • GameStop drops $35B CEO pay plan to focus on eBay deal GameStop withdrew a proposed $35 billion pay package for CEO Ryan Cohen, removing a major investor concern and signaling that management is fully focused on acquiring eBay. This reduces uncertainty and could make the eBay deal more likely, which investors see as positive for GME.

    This is a new event that removes a negative overhang and clarifies strategic focus, directly affecting GME's appeal.

  • GameStop forecasts adjusted EBITDA above $600 million for fiscal 2027 GameStop expects adjusted EBITDA to exceed $600 million for the fiscal year ending January 2027, nearly double last year's $345.4 million. This profit outlook shows the core business is improving, which supports a higher stock price.

    This is a new, concrete financial forecast that directly boosts investor confidence in GME's profitability.

  • GameStop vows to pursue eBay acquisition despite board rejection CEO Ryan Cohen said he will not back down from the $125-per-share bid for eBay, even considering a hostile takeover. GameStop already owns about 7.8% of eBay. The deal faces low odds (14% chance) and financing doubts, so it adds both potential upside and risk.

    This is a new development in the ongoing eBay saga, showing determination but also significant obstacles that could hurt GME if the deal fails.

  • Sony to stop making physical PlayStation discs by 2028 Sony will end production of physical game discs for PlayStation in 2028, moving fully to digital. This threatens GameStop's core business of selling new and used physical games, as more than 80% of game sales are already digital. Long-term demand for GameStop's main products shrinks.

    This is a new, industry-changing event that directly undermines GameStop's traditional retail model, a key risk for future earnings.

▲2▼1

GameStop's eBay bid advances as profit outlook brightens, but disc phase-out looms

  • GameStop drops $35B CEO pay plan to focus on eBay deal GameStop withdrew a proposed $35 billion pay package for CEO Ryan Cohen, removing a major investor concern and signaling that management is fully focused on acquiring eBay. This reduces uncertainty and could make the eBay deal more likely, which investors see as positive for GME.

    This is a new event that removes a negative overhang and clarifies strategic focus, directly affecting GME's appeal.

  • GameStop forecasts adjusted EBITDA above $600 million for fiscal 2027 GameStop expects adjusted EBITDA to exceed $600 million for the fiscal year ending January 2027, nearly double last year's $345.4 million. This profit outlook shows the core business is improving, which supports a higher stock price.

    This is a new, concrete financial forecast that directly boosts investor confidence in GME's profitability.

  • GameStop vows to pursue eBay acquisition despite board rejection CEO Ryan Cohen said he will not back down from the $125-per-share bid for eBay, even considering a hostile takeover. GameStop already owns about 7.8% of eBay. The deal faces low odds (14% chance) and financing doubts, so it adds both potential upside and risk.

    This is a new development in the ongoing eBay saga, showing determination but also significant obstacles that could hurt GME if the deal fails.

  • Sony to stop making physical PlayStation discs by 2028 Sony will end production of physical game discs for PlayStation in 2028, moving fully to digital. This threatens GameStop's core business of selling new and used physical games, as more than 80% of game sales are already digital. Long-term demand for GameStop's main products shrinks.

    This is a new, industry-changing event that directly undermines GameStop's traditional retail model, a key risk for future earnings.