Approval of more shares comes as GameStop pivots from physical discs to collectibles and explores an eBay acquisition.
GameStop shareholders approved an increase in authorized Class A shares on Tuesday, a move complicating its transition away from physical game sales. The company faces declining demand for discs, with spending on physical video games dropping to $1.5 billion in 2025, the lowest since tracking began in 1995.
Sony’s decision to end PlayStation disc production by 2028 accelerates GameStop’s shift toward collectibles and trading cards, which now account for 41.8% of Q1 fiscal 2026 revenue, up from 28.9% a year earlier. The company closed 430 stores in January 2026 as part of its restructuring.
GameStop’s $125-per-share bid to acquire eBay was rejected in May, with eBay’s board citing financing concerns despite GameStop’s $9.4 billion in cash and liquid assets.