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▲ GameStop, Dogecoin (DOGE), eBay/AI generated image
As even the official Dogecoin (DOGE) account reacted to GameStop's (GameStop) $56 billion acquisition proposal for eBay (eBay), the intersection of meme stocks and meme coins once again drew market attention.
According to cryptocurrency media outlet Benzinga on May 5 (local time), the official Dogecoin X (formerly Twitter) account mentioned an interview where GameStop CEO Ryan Cohen explained the figures and financing structure of the eBay acquisition proposal. The Dogecoin account stated, "It's a meme stock CEO's meme stock move. Game recognizes game."
This statement came amidst growing controversy surrounding Cohen's interview both inside and outside the market. Cohen reportedly repeatedly responded to key questions regarding financing, shareholder value, and GameStop's business operations in an interview broadcast on Monday by telling interviewers to check the company's website, instead of answering directly.
GameStop, a company with a market capitalization of approximately $11 billion, attracted market attention by making a $56 billion acquisition proposal for eBay. GameStop secured an economic interest equivalent to a 5% stake in eBay and obtained third-party acquisition financing of up to $20 billion from TD Securities.
However, the market sees a low probability of the deal going through. Polymarket participants reflected a 16% probability of the deal being completed in the "Will GameStop acquire eBay?" market. Benzinga reported that Dogecoin's reaction viewed GameStop's large acquisition proposal and Cohen's interview demeanor as an extension of meme stock culture.
GameStop shares rose 1.64% during regular trading on Tuesday but fell 0.45% in after-hours trading. Year-to-date, GameStop shares have risen by 20%. Dogecoin increased by 3.30% over a 24-hour period, and GameStop's eBay acquisition proposal emerged as a market event that elicited simultaneous reactions from both the meme stock and meme coin communities.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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