eBay may have shot down GameStop's $56 billion buyout offer this month, but the videogame retailer continues to show interest in the online auction platform.
GameStop has increased its stake in eBay to about 6.55%, the videogame retailer disclosed in a filing on Tuesday, days after the e-commerce company rejected its $56 billion takeover bid.
EBay is having a glow-up right now, with sales up 19% year-on-year in the first quarter of 2026. Fashion, one of eBay's core categories, has been integral to the company's growth.
GameStop CEO Ryan Cohen on Wednesday told eBay's board that the company should not reject his $56 billion takeover proposal and that the company's shareholders deserve a chance to evaluate it.
One firm is doubling down on its bull case for the online marketplace. Citi analyst Ronald Josey raised his price target on eBay (NASDAQ:EBAY | EBAY Price Prediction) stock to $127 from $114, maintaining a Buy rating.
Last week, GameStop offered to buy eBay for $125 per share. There is significant uncertainty over whether GameStop can actually afford the $55.5 billion purchase price it is offering.