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GameStop’s reported intention to make an offer for eBay sent several meme coins inspired by the gaming retailer sharply higher within 24 hours.
On-chain data shows that Solana-based token GME (GME) rallied about 54% to $0.00092 in a single day, while Roaring Kitty (KITTY) surged roughly 55%, rising from $0.00038 to $0.00059.
On the stock market, shares of GameStop rose 6% at Friday’s close and gained another 4% in after-hours trading following the news, as eBay finished flat before jumping about 12% late, according to Yahoo Finance.
The prospective deal, reported by The Wall Street Journal, forms part of CEO Ryan Cohen’s effort to build a $100 billion-plus industry giant. GameStop’s market capitalization is about $12 billion, while eBay’s stands at $46 billion—roughly four times larger.
GameStop also has a $9 billion cash war chest built through years of aggressive cost-cutting and operational restructuring.
The brick-and-mortar gaming chain made its first Bitcoin purchase last May and later pledged nearly all of it to Coinbase Credit as collateral for a covered-call strategy, selling options to generate premium income while capping its upside.
The BTC stash was worth around $512 million when GameStop announced the purchase and had declined sharply as crypto markets retreated.
GameStop’s core retail business is shrinking amid ongoing pressure from the industry’s shift toward digital downloads. The firm reported fiscal 2025 revenue of approximately $3.6 billion, down from $5.2 billion in fiscal 2023.
GameStop accelerated store closures in the past two years. It shut 727 stores in the US in 2025, bringing total closures to over 1,300 across two fiscal years and cutting its store base from 2,915 to 1,598.
In fiscal 2025, GameStop reported net income of approximately $418 million, marking a turnaround from prior losses. Aggressive cost-cutting—including over $200 million in reduced operating expenses—has reshaped the business into a leaner operation.
Profitability is now supported less by traditional retail and more by interest earned on its roughly $9 billion cash reserves, alongside growth in higher-margin categories such as collectibles, which remain one of the few expanding segments of its retail business.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
