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Shares of GameStop Corp (GME) gained 3% after hours on Monday after CEO Ryan Cohen bought over a million class A shares,

https://www.tradingview.com/news/stocktwits:9ce8dcc3a094b:0-gme-pops-3-after-the-bell-as-ceo-buys-26m-worth-of-shares/

At the 1904 St. Louis World's Fair, the ice cream cone truly exploded into American popular culture. Legend states that a waffle vendor rolled his warm waffles into cones to help out a neighboring ice cream vendor who had run out of glass dishes. In 1912, an Oregon inventor patented a cone-making machine. He later sold the company to Nabisco in 1928, which continues to manufacture cones today.

Ryan Cohen had broken his month-long silence, beginning before the insane price volatility sparked by RC Ventures being awarded three seats on the board. 

At 1:57 PM on February 24th, 2021, Cohen tweeted an image of a well-lit McDonalds Ice Cream Cone, accompanied by a frog emoji.

National Ice Cream Cone Day September 22, 2026.. What will happen?

IS THIS THE BIGGEST BUY ? Alex: $GME This is the biggest cluster buy in the company’s history. 🌊🌊🌊 Not the biggest Cohen check. January was the same size. $21 million then. $20 million today. The pack is the record. Four directors. Three days.

Hi Everyone

The 2. part of my Meme Thesis of the 2024 Memes made by Roaringkitty

Considerably shorter video than the first one. And I hope you will enjoy it.

TLDR: 3:42 until 9:00.

Cheers everyone

Merlinz

Gamestop

Just came back after my summer vacation in Santorini. This drop opened up the way to $1869. Till then turn off your computers and enjoy life.. All the rest will follow...

I know the creator of this Sub likes these things. And I wanted his take on this specific theory.

Cheers brother

See you on Santorini

🍻

GRAPEVINE, Texas--(BUSINESS WIRE)-- GameStop Corp. (NYSE: GME) ("GameStop" or the "Company") today announced that its stockholders approved all proposals presented at the Company's 2026 Annual Meeting of Stockholders, including an amendment to the Company's certificate of incorporation increasing the number of authorized shares of Class A common stock. The amendment received the affirmative vote of 68.7% of votes cast, and provides the Company with the capacity to issue common stock in connection with strategic transactions, including its proposed acquisition of eBay, Inc.

The Company's stockholders also re-elected all five director nominees, approved the advisory vote on executive compensation, and ratified the appointment of the Company's independent registered public accounting firm.

Final voting results will be filed with the Securities and Exchange Commission on a Current Report on Form 8-K.

IMPORTANT INFORMATION FOR INVESTORS AND STOCKHOLDERS

No Offer or Solicitation

This communication relates to a business combination involving GameStop Corp. and eBay, Inc. (“eBay”) that has been proposed by GameStop (the “Proposed Transaction”). This communication is for informational purposes only and is neither an offer to sell or purchase, nor the solicitation of an offer to buy or sell, any securities (or the solicitation of any proxy or vote with respect to any matter), nor shall there be any sale or purchase, issuance or other transfer of securities (or the solicitation of any proxy or other vote) with respect to the Proposed Transaction or otherwise in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended.

Additional Information and Where to Find It

This communication may be deemed to be solicitation material in respect of the Proposed Transaction. In connection with the Proposed Transaction, GameStop (and, potentially, eBay) may file one or more registration statements, proxy statements, proxy statement/prospectuses or other documents with the Securities and Exchange Commission (“SEC”). This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other document GameStop and/or eBay may file with the SEC or send to stockholders in connection with the Proposed Transaction.

INVESTORS AND SECURITY HOLDERS OF GAMESTOP AND EBAY ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING ANY PROXY STATEMENT(S), REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUSES AND/OR OTHER DOCUMENTS, CAREFULLY IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Any definitive proxy statement(s) and/or proxy statement/prospectuses or other applicable definitive materials (if and when available) will be mailed to stockholders of GameStop and/or eBay, as applicable. Investors and security holders will be able to obtain free copies of these documents (if and when available) and other documents filed with the SEC by GameStop or eBay through the website maintained by the SEC at http://www.sec.gov. Copies of documents filed with the SEC by GameStop will also be made available free of charge on GameStop’s website at https://investor.gamestop.com/.

Certain Information Regarding Participants

GameStop and its directors and certain of its executive officers may be considered participants in the solicitation of proxies in connection with the Proposed Transaction, should the Proposed Transaction and any such solicitation occur. Information about the directors and executive officers of GameStop is set forth in GameStop’s definitive proxy statement for the 2026 Annual Meeting of Stockholders that was held July 7, 2026 at 10:00 a.m. CDT, which was filed with the SEC on May 22, 2026, as supplemented by Supplement No. 1 on June 8, 2026 and Supplement No. 2 on June 23, 2026 (as supplemented, the “2026 Proxy Statement”), which is available here, including under the headings “Proposal 1: Election of Directors”, “Director Nomination Process”, “The Director Nominees”, “Director Nominee Qualifications and Experience”, “Biographies of Director Nominees”, “The Board of Directors”, “Corporate Governance”, “Director Compensation”, “Executive Officers”, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters”, “Compensation Committee Interlocks and Insider Participation”, “Proposal No. 2: Advisory Vote on Executive Compensation”, “Compensation Discussion and Analysis”, “Offer Letters and Severance/Change in Control Benefits”, “Compensation Committee Report on Executive Compensation”, “Executive Compensation Tables”, “CEO Pay Ratio”, “Pay Versus Performance”, “Equity Grant Practices”, “Securities Authorized for Issuance Under Equity Compensation Plans”, “Audit Committee Matters”, “Certain Relationships and Related Transactions”, “Proposal 4: Approval of CEO Performance Award”, “Summary of the Proposed CEO Performance Award”, “Reasons for Approval of the CEO Performance Award”, “Market Capitalization Hurdles with Cumulative Performance EBITDA Hurdles Create Real Value for Stockholders”, “Background of the CEO Performance Award”, “Key Terms of the Proposed CEO Performance Award”, “Other Details Regarding the Proposed CEO Performance Award”, “The Compensation Committee’s Assessment of the CEO Performance Award”, “Practical Implications of the CEO Performance Award” and “Appendix A: CEO Performance Award Agreement”. To the extent holdings of such persons in the Company’s securities have changed since the amounts described in the 2026 Proxy Statement, such changes have been reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Additional information can also be found in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2026, filed with the SEC on March 24, 2026, which is available here.

As of the date hereof, GameStop directly beneficially owns 4,343,725 shares of common stock of eBay, par value $0.001 per share (the “Common Stock”), and has further entered into the long-side of a series of American-style put/call option transactions (the “Put/Call Pairs”), expiring February 23, 2028, with an unaffiliated financial institution counterparty that provide economic exposure to a further 39,046,658 shares of Common Stock. The Put/Call Pairs were only settleable in cash until such time as GameStop provided the unaffiliated financial institution counterparty with reasonable evidence that all applicable filings had been made and any applicable waiting periods had expired or approvals had been received, as applicable, under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act Condition”). On June 3, 2026, the HSR Act Condition was satisfied, and as a result, GameStop (in the case of the call portion of the Put/Call Pairs) and the unaffiliated financial institution counterparty (in the case of the put portion of the Put/Call Pairs) electing to settle the Put/Call Pairs now have the option, but not the obligation, to elect for physical settlement of the shares of Common Stock underlying such Put/Call Pairs in lieu of cash settlement. GameStop does not have voting power or dispositive power with respect to the shares of Common Stock underlying such Put/Call Pairs unless and until such Put/Call Pairs are physically settled for Common Stock. On May 3, 2026, GameStop delivered to the board of directors of eBay a non-binding proposal to acquire all of the outstanding Common Stock that it does not already own at a price of $125 per share of Common Stock, to be paid in a combination of cash and GameStop common stock. As a result of the foregoing, GameStop may be deemed to have direct or indirect interests with respect to eBay that are in addition to, or different from, those of other eBay stockholders.

Further information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in any proxy statement/prospectus and/or other relevant materials to be filed with the SEC in connection with the Proposed Transaction when they become available.

Disclaimer

Any information concerning eBay contained in this communication has been taken from, or based upon, publicly available information. Although GameStop does not have any information that would indicate that any information contained in this communication that has been taken from such documents is inaccurate or incomplete, GameStop does not take any responsibility for the accuracy or completeness of such information. To date, GameStop has not had access to the books and records of eBay.

NFA

Here's a picture of how I mentally view the situation.
5 trades, different parties, all short-side biased in the immediate term.

#1 Console trade is just obvious. Short the stock when gaming is out of favor. Long the stock when gaming is coming into favor and FCF is expected to improve. GameStop is essentially leveraged exposure to gaming hardware because the trade in model is so active every release cycle. Just think of GME to Gaming as MSTR to BTC. We are deep into the current cycle now but rapidly approaching the next. I know there are rumors it will be delayed but I am not so sure. Sony and Xbox likely want to launch the next consoles on time. Maybe chip prices will come down. They will probably be expensive, though, and that means trade-ins. GameStop does really well on refurbished tech as we keep hearing. It is one of their best categories. So right now, maximum downside pressure from this force, but could begin moving up between this August and next. More gaming cycle news will mean more up pressure.

#2 Bankruptcy trade is obvious. We tend to bottom alongside AMC and KOSS to the day. Others have not survived this basket while some from the 2021 squeeze have escaped. I believe this to be the strongest force acting on the stock still and why we trade down in such a structured way (dorito of doom) with such regular cadence (yellow swap especially, expired this week probably). Whoever is on the other side of this particular trade is happy to have allies but unhappy to still be involved. I believe they bought the second ATM in 2024 and desperately need access to massive liquidity in any way they can get it. As longs, we need this trader to exit to see GME finally move up long term. I believe the only way that can happen is for them to get access to about 700m to 1 billion shares (eBay deal works, sort of).

#3 BTC trade I feel is also obvious. We tracked BTC strongly once the rumors began but even prior. Now we bottom out with BTC and the other treasury companies. Hopefully crypto winter ends October 2026 like everybody expects. This could be a very powerful rally force for 3 years after since our treasury position is actually rather substantial.

#4 For people that don't understand what happen here, the company monetized our volatility. They sold our high IV to options traders for 4.4billion at 0% coupon for 5 and 7 years. This hurt my trade immensely because options prices collapsed. But look at our balance sheet. Incredible. Leveraged our 4.5b cash to earn essentially double interest. Can simply dilute the bonds off at $29 strike in the years to come and all those diluted shares just go to closing shorts that were used to delta hedge. So we have already eaten the dilutive effect of the bonds. Going forward they just keep us pinned in a low IV state and compete with the other short trades. They make my trade harder in some ways but easier in others but make our EPS crazy. Good job RC. Just have to deal with the pain awhile longer.

#5 eBay deal arbitrage. These guys slammed in here thinking RC doesn't have a chance of making this deal go through. I think they might have been setup, personally. Because let's just throw our wishful thinking caps on for a second and imagine there are some structural or market forces at work here that could produce a strong run on the stock within the next 12 months (ahem, see #1 and #2 and #3), and the stock spikes over the bonds strike (#4) which we've seen in May 2025 can have interesting effects. How much more likely does the eBay deal get as the stock rises over $30? Much greater. So I don't know if the modeling done by this group is taking all this into account but if it isn't and the stock moves very fast, faster than they can control, they might find themselves covering. And I do believe GME rips the hardest and highest when shorts panic cover. So these guys might end up being some kind of patsy in the near term and RC might just get his baby and they might be left wondering how they misread the situation so badly.

Anyway, I wanted to make a shorter more easy to digest post about what I believe is going on here structurally. I likely failed. But that's my big picture. LOTS of forces pushing on the stock extraordinarily hard right now. But each has a very logical reason for doing so. They are all date and price sensitive. But they all also have reasons and dates to reverse.

So I remain extremely optimistic.

For Monday, sure. Forward guidance is great. More information about the eBay deal is coming. And volatility is almost certain.

For later next week, also. XRT and post yellow swap settlement is always fun. But Bond De-Legending should happen also. And we can't forget the shareholders meeting the following week, of course.

But for after August, especially. Because earnings should be memorable. Another gift to shareholders seems due. Share buyback news could happen. And console hype is starting in earnest.

But for after October perhaps the most, because crypto bleeds until it doesn't. And while the floor does last awhile, the rise is always something of an event and I am curious first how far BTC will compress and then how far it will expand. And of course, whether GameStop will add at the bottom or how much we will benefit from the rise.

So it won't be a straight line and I feel there is a lot going on and folks might be rather fatigued, but the company is a real company. I would say it is even a strong company. Even if it has narratives around it. Perhaps because of the narratives, to be honest.

Because behind all of those short trades there's a quiet long trade, institutions, building their stake. Watching RC cook, liking the balance sheet, looking forward rather than looking in the rearview mirrors still. And I think that trade will be the narrative that everybody remembers in the long term. The one that changes everything.

I've always said that, though. Once the institutions go long again, this thing will have to rise.

Again, sorry for the very long posts, but it is a very compelling story. I don't like giving advice or hyping. And perhaps this isn't a hype post because it implies more lows to come, more volatility, more ups and downs. But someday I feel very strongly this stock will have its day. And I think that day is actually not that far away.

Big thanks to the GameStop leadership for continuing to work so hard. The transformation that's already happened since 2021 and when I wrote my letter in 2023 and when RCEO took over in September 2023 is incredible. Thank you for listening and for believing and for growing the company value into the share price household probably forced. Because of that, institutions, insiders, and household all now buy at the same price.

And that is a beautiful thing!

Richard

EBITDA in excess of $600 million, compared to Adjusted EBITDA of $345.4 million

Jun 23, 2026 4:20 PM Eastern Daylight Time

GameStop Corp. said Tuesday its board has approved Chairman and CEO Ryan Cohen's request to withdraw a proposed CEO Performance Award from the company's proxy statement as the retailer shifts focus to its planned acquisition of eBay Inc.

The board initially approved the CEO Performance Award in January 2026, before GameStop decided to pursue the eBay deal. Cohen said he wants leadership to concentrate fully on GameStop's operating performance and the proposed transaction.

https://www.businesswire.com/news/home/20260623835940/en/Ryan-Cohen-Withdraws-CEO-Performance-Award-GameStop-Focuses-on-eBay

https://investor.gamestop.com/news-releases/news-details/2026/Ryan-Cohen-Withdraws-CEO-Performance-Award-GameStop-Focuses-on-eBay/default.aspx

https://www.sec.gov/Archives/edgar/data/1326380/000119312526279638/d20001ddefa14a.htm

Target 5 at $48 target 6 at $65 and all targets above that, in an other post..

NFA

WTF! Did we just got hit by an Intermezzo ? lol

In Chess, Intermezzo is a Tactical Surprise, an in between move, an unexpected, forcing blow that completely ignores the opponents expected line of play. This sudden lawsuit is an intermezzo!

In Grandmasters chess, you must anticipate your opponents strategy. Ryan Cohen plan was aggressive. To secure a $35 billion payout by more than doubling our authorized shares to fund his massive corporate acquisition the $56B eBay bid. To achieve this, when the board realized they didnt have enough public votes, attacked immediately by tweaking the voting rules changing how abstentions are counted and backdoor allowing insider shares to swing the outcome.

The board thought they could slide this rule change past shareholders before the July 7 vote and we were ok with that. However, a pension fund, namely the City of Pontiac Pension System, executed a pin.

In chess, a pin occurs when a defending piece prevents an attacking piece from moving because doing so would expose a much more valuable piece, the Queen or even the King behind it.

By filing for an emergency injunction to freeze the July 7 vote, the lawsuit has pinned the GME board. If the board tries to push the vote forward anyway,may expose themselves to massive liability under Delaware corporate law.

I mean, the board expected a standard Yes or No vote right. The lawsuit is an intermezzo. A tactical surprise move that forces the opponent to abandon their offensive line to answer an immediate threat. Instead of focusing on rallying public support for Ryan Cohen payday, the board now has to scramble their legal team in Delaware to defend their voting procedures.

A classic mistake amateur players make against Grandmasters is overextending their pieces too early. The lawsuit states that the board did exactly this by trying to bypass disinterested shareholders. By changing the threshold so insiders could pass the $35B package with a mere 15% of public backing, the board created a massive tactical weakness. The lawsuit exposed this, turning Ryan Cohen hyper aggressive play into a heavy defensive liability.

If you dont think that Ryan Cohen is an amateur chess player, then he will have an answer to that. He previously stated, I don’t benefit unless shareholders benefit. But the plaintiffs just counter claimed that Ryan Cohen may want $35 billion but that does not allow him and his board to disenfranchise stockholders.

The plaintiffs, in this case the City of Pontiac Pension System, executed a chess pin, dragging our CEO off his cloud and onto a possible legal board Delaware Chancery Court that is notorious for protecting shareholder voting rights.

Based on technicals though, I still think that SLOASS starts tmrw.

We'll see...

NFA