GameStop, a video game retailer, experienced a 3.4% decline in its share price, hitting an intraday low of $22.39 on the New York Stock Exchange after eBay rejected its $56 billion takeover bid. eBay's board unanimously turned down the offer, citing concerns regarding the financing plan, operational risks, and GameStop's governance structure. Chairman Paul Pressler highlighted the potential negative impact on eBay’s long-term growth and the uncertainties surrounding the acquisition. GameStop's CEO, Ryan Cohen, indicated his willingness to pursue a proxy fight to replace eBay board members if the proposal continues to be rejected. The acquisition offer was structured as 50% cash and 50% GameStop stock, despite eBay's market value being nearly four times larger than GameStop's. GameStop's stock has shown significant volatility, having delivered a 78% return in 2024 before losing nearly half that gain in 2025. Investors remain skeptical about the feasibility of the acquisition, particularly due to GameStop's plan to borrow $20 billion to finance the deal.