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GameStop Shares Decline as CEO Ryan Cohen Weighs Dropping $56 Billion eBay Bid for Partnership
['Joe Green']
International Business Times Australia
GameStop, the specialty retailer of video games, collectibles and electronics, has seen its shares decline roughly 28% since it first floated the eBay bid in May.
No final decision has been made, and other options remain under consideration.
GameStop has continued to build its position in eBay through share purchases and options, making it the second-largest holder behind Vanguard Group funds.
Shares fell more than 12% on the day of the announcement amid dilution concerns and volume that exceeded 41 million shares.
Read more GameStop Shares Steady Near 52-Week Low as Debt Swap Reference Period Continues Ahead of Earnings This Week GameStop Shares Steady Near 52-Week Low as Debt Swap Reference Period Continues Ahead of Earnings This WeekThe company has not issued an immediate public comment on the latest partnership discussions.