GameStop now owns 43.4 million eBay Inc. (NASDAQ:EBAY) shares, a 9.8% stake, according to a regulatory filing. This follows the 5% stake GameStop disclosed in May alongside an unsolicited offer to buy eBay for about $125 per share, valuing the deal at roughly $56 billion. Since Ryan Cohen needs these exact investors to approve his deal, he is going to have a very hard time convincing them to trade their valuable eBay shares for GameStop stock. A full buyout is unlikely right now because GameStop Corp. (NYSE:GME) still has not figured out how to pay for it, which makes GameStop stock, not eBay stock, the real gamble. But if he fails and walks away empty-handed, Wall Street will punish GameStop stock for wasting a massive amount of cash on a failed public campaign.