TLDR
- Shares of GameStop surged up to 13% during after-hours trading Monday following mysterious posts on Keith Gill’s Roaring Kitty social media account, only to reverse course when the content was removed.
- Chewy shares climbed as high as 3% during the same period before giving back gains.
- Market watchers are increasingly focused on potential GameStop–eBay merger activity after Ryan Cohen deleted GameStop from his social bio while eBay surfaced on GME’s investor relations portal.
- The company submitted an SEC filing seeking to expand authorized Class A shares from 1 billion to 2.5 billion, mentioning potential acquisition activity.
- Reports indicate GameStop has put forward a proposal to acquire eBay in a deal valued at approximately $56 billion, with Cohen highlighting $2 billion in potential yearly cost reductions.
Shares of GameStop experienced dramatic swings during Monday’s after-hours session, sparked by fleeting activity on Keith Gill’s social media presence—the investor widely recognized as Roaring Kitty.
The video game retailer’s shares climbed as high as 13% before completely reversing direction and trading in negative territory. The dramatic turnaround occurred after the posts—one featuring a cat image, another displaying Pepe the Frog donning Roaring Kitty’s iconic red headband—disappeared around 5:40 p.m. Eastern time, roughly 60 minutes after initially appearing.
Shares of Chewy mirrored this volatile pattern, advancing up to 3% before wiping out the entire move. Ryan Cohen, GameStop’s chief executive, originally founded the pet supplies retailer.
This marks another instance where Gill’s social media presence has influenced market behavior. An enigmatic post during late 2024 propelled GameStop shares higher and prompted a trading halt due to volatility. AMC Entertainment experienced similar gains during that occurrence.
eBay Speculation Heats Up
The volatile after-hours trading unfolded during a session already filled with speculation regarding a potential GameStop–eBay combination.
Market participants observed that Cohen had eliminated GameStop from his social media profile. Simultaneously, eBay materialized on GameStop’s investor relations website. Both corporations have remained silent regarding any merger negotiations.
The investor relations page modification links to regulatory documents connected to GameStop’s offer to purchase eBay for an estimated $56 billion. Should it materialize, this would represent among the most significant acquisition attempts ever undertaken by an enterprise of GameStop’s market capitalization.
Cohen’s presentation highlights $2 billion in yearly cost efficiencies achievable within twelve months of deal completion, with Cohen personally assuming control of the merged entity.
Share Expansion Filing Adds Fuel
Also during Monday’s session, GameStop submitted documentation to the SEC requesting authorization to boost Class A shares from 1 billion to 2.5 billion. Management indicated the expansion would facilitate acquisitions, capital raising initiatives, and corporate reorganization efforts.
Following the announcement of the eBay proposal, Cohen has openly challenged eBay’s financial results, highlighting declining operating profitability and escalating expenses.
Not all investors share the enthusiasm. Michael Burry—the hedge fund manager famous for his housing market bet documented in “The Big Short”—has liquidated his GameStop holdings, sparking concerns about the retailer’s expanding debt obligations.
Anthony Pompliano, who serves as CEO of Professional Capital Management, announced via X that he’s scheduled to interview Cohen on Tuesday.
Year-to-date through 2026, eBay shares have appreciated over 24%. GameStop stock has gained more than 15%.
