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Posted On: June 3rd 2026, 01:38 pm
GameStop posted a 14% revenue increase Tuesday, with net income jumping from $44.8 million to $389.6 million year-over-year, and announced a $2 billion share buyback program.
The company has pivoted from selling video games nobody buys in stores anymore to trading cards and collectibles, which apparently people do buy in stores, and it is working well enough that Ryan Cohen now has enough liquidity to keep shopping.
Shopping being the operative word. Cohen increased GameStop’s stake in eBay to 6.6% and reiterated his commitment to acquiring the e-commerce company despite eBay calling his $56 billion unsolicited offer “neither credible nor attractive,” which is corporate for “absolutely not.” Cohen’s response was to buy more shares and suggest he might take the offer directly to eBay shareholders, which is the hostile takeover equivalent of showing up uninvited and asking the roommates instead of the landlord.
The collectibles business is booming, and Ryan Cohen be shoppin’.
The company has pivoted from selling video games nobody buys in stores anymore to trading cards and collectibles, which apparently people do buy in stores, and it is working well enough that Ryan Cohen now has enough liquidity to keep shopping.
Shopping being the operative word. Cohen increased GameStop’s stake in eBay to 6.6% and reiterated his commitment to acquiring the e-commerce company despite eBay calling his $56 billion unsolicited offer “neither credible nor attractive,” which is corporate for “absolutely not.” Cohen’s response was to buy more shares and suggest he might take the offer directly to eBay shareholders, which is the hostile takeover equivalent of showing up uninvited and asking the roommates instead of the landlord.
The collectibles business is booming, and Ryan Cohen be shoppin’.
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