On July 28, eBay rose 3.03% in regular trading, trading at $112.7/share, with turnover of approximately $90.54 million. The stock gained momentum as GameStop's latest regulatory filing revealed it now holds approximately 9.8% of eBay's outstanding common shares, nearly doubling from about 5% in early May.

GameStop's aggressive accumulation signals its unwavering commitment to the proposed approximately $56 billion cash-and-stock acquisition of eBay, which was previously rejected by eBay's board. CEO Ryan Cohen has publicly stated he will not abandon the bid, with the goal of building a trillion-dollar market-cap enterprise. GameStop shareholders approved a share increase on July 8 to finance the potential acquisition, and the company has continued expanding its position through open-market purchases and options settlements.

Adding to the bullish sentiment, BofA Securities raised its price target on eBay to $120 from $110 on July 22. Baird also previously adjusted its target to $125 from $117 while maintaining an Outperform rating. The consensus mean price target among analysts stands at approximately $112.50, reflecting elevated valuation expectations driven by ongoing acquisition pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)