
Yesterday, GameStop CEO Ryan Cohen said that he was "selling stuff on eBay" in order to fund his unbelievable bid to buy eBay. Soon after, he was suspended from the online auction site, albeit only temporarily. Either way, the whole ordeal has turned the proposed buyout from "a little weird" to "very laughable."
Earlier this week, Cohen announced an interest in buying eBay, proposing a $56 billion buyout that would install him as the boss of the combined company. The deal would be comprised of 50% GameStop stock – the Wall Street equivalent of in-store trade-in credit – and 50% cash, backed by a $20 billion commitment from TD Securities.