Getting cancelled, GameStop CEO Ryan Cohen banned from eBay

eBay (NASDAQ: EBAY) has permanently suspended GameStop (NYSE: GME) CEO Ryan Cohen’s account, citing “activity that we believe was putting the eBay community at risk,” according to a notice posted by Cohen. The move follows Cohen’s publicity stunt of auctioning approximately 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.

The proposed acquisition has drawn sharp criticism from investors and analysts alike. 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.