GameStop's shares declined by 3.4% to $22.39 after eBay rejected a $56 billion takeover bid, citing concerns over financing and operational aspects. The company's CEO, Ryan Cohen, has indicated the possibility of initiating a proxy fight if eBay continues to decline the offer. GameStop's stock has shown significant volatility in 2026, with a 26% rebound year-to-date. This development highlights ongoing strategic moves by GameStop's leadership to influence the company's direction amid fluctuating market conditions. GameStop's shares fell 3.4% to $22.39 after eBay rejected a $56 billion takeover bid due to financing and operational concerns. The update was published on 12 May 2026, 10:37 pm.