Why GME CEO Ryan Cohen Insists on Buying eBay With Half Cash / Half Stock
The market is asking the wrong question.
The dominant reaction to GME proposing a roughly $55.5–56 billion acquisition of eBay has been almost aggressively linear:
“How can GameStop possibly afford this?”
That question assumes we still live in a world where public markets function primarily as discounted cash flow machines. A world where financing is downs…
