Quick Read – GameStop (GME) surged 9% after posting record $390M net income and approving a $2 billion share buyback program. – Ryan Cohen grew GameStop’s eBay (EBAY) stake to 7% and may bypass the board after eBay rejected his $56 billion offer. – The headline profit includes a…
68M unrealized derivative gain on eBay stock, with adjusted net income at $179M. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and eBay wasn’t one of them. Get them here FREE
Shares of GameStop (NYSE:GME) are up 10% to $23 on Wednesday morning, snapping back from a brutal stretch after the video game retailer posted its highest quarterly net income on record and approved a fresh $2 billion buyback. The pop comes after Tuesday’s $20.92 close and an after-hours surge that extended into the premarket session. The catalyst landed after the bell on June 2, when GameStop released its Q1 FY2026 results and the board unanimously authorized a new repurchase program.
Meanwhile, takeover target eBay (NASDAQ:EBAY) is barely moving, with eBay stock up less than 1% to around $109.36 as traders digest GameStop’s continued pursuit. The rebound is notable because GameStop stock was down 21% over the past month heading into the print. Today’s move is a snapback on a genuine surprise rather than continued momentum.