Burry Left in a Hurry! The Loophole GameStop Could Use to Pull Off Buying eBay (10x its Size) Artwork

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Burry Left in a Hurry! The Loophole GameStop Could Use to Pull Off Buying eBay (10x its Size)

May 08, 2026 • Kristen and Jen

0:00 | 24:55

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Michael Burry just dumped all his GameStop shares. eBay reportedly deactivated Ryan Cohen's account. And the $56 billion "takeover" GameStop pitched on CNBC? It would actually have eBay shareholders paying for most of it themselves. We're back to break down the latest twists in the GameStop–eBay drama — and why this deal is structured unlike almost any takeover Wall Street has seen.

In this episode, Kristen walks Jen (and you) through the rollover equity mechanics that make this look less like an LBO and more like a SPAC, the precedent Bill Ackman set when he paid $10 million to get the SEC to approve his SPARC, and why levering eBay up at 7–10x puts the combined company at material bankruptcy risk over the next few years. We also get into why eBay might actually want a version of this deal (just not this version), and whether a private equity firm could step in with a cleaner bid,

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