GameStop Builds Nearly 10% Stake in eBay
Synopsis
The video game retailer has disclosed a 9.8% stake in eBay, signalling its determination to pursue a takeover after its unsolicited acquisition proposal was rejected.
GameStop now owns a 9.8% stake (43.4 million shares) in eBay, according to an amended Schedule 13D filing that it made with the U.S. Securities and Exchange Commission (SEC). The retailer says it has “enhanced its online presence” since making a $55.5 billion acquisition bid of eBay, which was rejected earlier this year.
The updated filing said the retailer already held a partial economic interest in the stock prior to the amendment, and now directly owns it. In June, GameStop purchased approximately 3.5 million eBay shares for approximately $381 million, and also settled about 39 million eBay shares purchased under derivative contracts, which will have full voting rights.
Expanding Direct Ownership
The amended filing now includes its previously disclosed 5% economic interest but increases GameStop’s stake in the stock to 9.8%, which still falls just below the 10% mark in the U.S. That requires additional regulatory disclosure.
GameStop noted that it utilized its “working capital resources” to acquire the shares and said the filing reflects “no change” to its previous acquisition proposal, any further purchases of shares, or any further negotiations with eBay.
Financial Results Provide Perspective
The move to expand the GameStop-eBay stake comes at a time where both companies posted solid quarterly results. GameStop reported $835.3 million in first-quarter fiscal 26 net sales and $389.6 million in net income, with the company holding $9.7 billion in cash, marketable securities, and digital assets at the end of the quarter.
eBay reported 1Q26 revenue of $3.1 billion, with gross merchandise volume growing to $22.2 billion. eBay also has marketplaces across more than 190 markets worldwide including Australia, Canada, United States, Germany, the UK and Japan, among others.
Market Watches Ownership Position
The filings have kept potential investors on the edge of their seats about the relationship between the two companies since eBay’s board unanimously rejected the game console maker’s May bid for the e-commerce company, stating it was not sufficient to serve as a basis for discussion. The disclosure comes amid the backdrop of ongoing online commerce as a retail channel.
U.S. Census Bureau figures report e-commerce sales account for 16.9% of all U.S.
Retail sales in the first quarter of 2026, while a report from Australia Post on the Australian e-commerce market found online retail sales in the nation hit A$69 billion last year, comprising roughly 14.5% of the total retail spend, with sales on online platforms continuing to rise.
Source: Reuters
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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