eBay has permanently suspended GameStop CEO Ryan Cohen’s account, citing “activity that we believe was putting the eBay community at risk,” according to a notice posted by Cohen.
This comes after Cohen conducted a publicity stunt where he auctioned around 25 personal items on the platform—including GameStop store signs, video games, and a carpet square—in what he described as “selling stuff on eBay to pay for eBay.”
The suspension comes days after GameStop announced an unsolicited $56 billion bid to acquire eBay for $125 per share in cash and stock, despite GameStop’s market capitalization of just $11.29 billion.
Cohen had listed items that accumulated tens of thousands of dollars in bids before the suspension, with a GameStop mug reaching over $3,000 and a Master Chief statue exceeding $10,000. Each listing included a hand-signed copy of Cohen’s takeover proposal letter to eBay management.
READ: GameStop’s eBay bid fuels hype, raises investor doubts By Jayujyoti Mullick (May 5, 2026)
Investors and analysts have criticized the proposed takeover bid. Michael Burry, the investor known for predicting the 2008 financial crisis, sold his entire GameStop position after the bid announcement. “Never confuse debt for creativity,” Burry stated, expressing concerns about the deal’s heavy leverage.
TD Bank had provided a $20 billion financing letter to GameStop, leaving a significant funding gap for the $56 billion deal. Cohen said in an interview with CNBC earlier this week, that the deal would be paid for with “half cash and half stock” but struggled to explain the financing math when questioned by anchors Andrew Ross Sorkin and Becky Quick.
Credit ratings agency Moody’s called the proposed deal “credit negative” for eBay, noting it would balloon the company’s debt from $7 billion to $31 billion.
READ: GameStop targets eBay in multibillion-dollar takeover bid (May 4, 2026)
Some have suggested that the deal is meant to leverage GameStop’s meme-stock status, and that if the publicity around the deal boosts the company’s stock, it would make the deal more realistic.
eBay’s board is scheduled to meet this week to review GameStop’s unsolicited bid, according to Semafor, which cited people familiar with the matter.
Cohen has previously suggested he would pursue a proxy fight for eBay board seats if management rejects the offer. He has promised to slash $2 billion in costs within the first year if the deal proceeds. Investors will be watching out for eBay’s move, and whether Cohen escalates his unconventional campaign through alternative platforms or tactics.