eBay Bounces Back; Focus Turns to GameStop Moves
eBay Inc. shares climbed 1.6% to $112.13 on Thursday, breaking a four-day losing streak. Traders are watching to see if GameStop CEO Ryan Cohen will push forward after eBay rejected his $56 billion takeover offer. eBay shares are still trading well under GameStop’s $125-a-share cash-and-stock offer. The gap, known as the deal spread, is the difference between what GameStop is offering and where eBay trades now, and it signals investors have doubts the deal will close as pitched.
