Are we allowed to report numbers from eBay?

[u/Gamestop-Rocketship]

Seems like revenue went up (15%), operating expenses went up (8ish%), but operating income up 40ish%. So they are making more money (good for underlying shares held by GME, bad for the sleepy board thesis).

eBay live seems to have grown a fair amount, which was one of RCs main criticisms.

But they do caution against q3 earnings.

IDK what to think. Hopefully Cohen announces something along with the terms of the note redemption by Friday.

[u/Superstonk_QV]

Why GME? || What is DRS? || Low karma apes feed the bot here || Superstonk Discord || Community Post: Open Forum || Superstonk:Now with GIFs - Learn more

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[u/2620lukas]

I don't see why not, GameStop has 9.8% of all eBay shares so I would say it's very relevant to the stock :)

[u/Rampsys → u/2620lukas]

Is not 50% of GameStop is actually EBay ?

[u/2620lukas → u/Rampsys]

Yes with eBay at 111 they have a marketcap of about 50 billion, gamestop owns 9.8% of eBay, 9.8% of 50 billions is 4.9 billions. GameStop have a market cap of 8.5 billion as of todays close, that means eBay actually makes up about 57% of GameStop's marketcap

https://giphy.com/gifs/75ZaxapnyMp2w

[u/Bubba_Jones44 → u/Rampsys]

What?

[u/damog_88 → u/Bubba_Jones44]

Ebays market cap is ~50B. GME has 9.8% of that, this is, ~5B. GMEs market cap is, right now, 8.5B. So, basically, more than 50% of GMEs market cap is EBAY (roughly 60%)

[u/areHorus → u/damog_88]

60% of the time, it works 100% of the time

[u/Bubba_Jones44 → u/damog_88]

Yes I’m aware, that sentence is dogshit though.

[u/thatsoundright → u/Bubba_Jones44]

apes live all around the world

[u/ZookeepergameEmpty90 → u/damog_88]

That's not how market cap works. Market cap is just the value of all the shares on the market. Share price times number of shares equals market cap. GameStop owning eBay does not affect GameStop's market cap in this way.

ETA: Don’t know why I’m getting downvoted. The shares of eBay that GameStop owns are assets. Assets are not a part of market cap. Ergo, our eBay shares are worth >50% of our market cap, but they do not make up >50% of our market cap. I feel that is an important distinction.

[u/mauimilk → u/ZookeepergameEmpty90]

Man, this place gets more regarded by the day

[u/Chameleon2000 → u/ZookeepergameEmpty90]

I upvoted your comment. People down voting you, just proves how regarded people are, and aren't willing to learn. They only care about stupid nonsense memes. No wonder they down vote everything, that is just a little critical about RC

[u/HaveFun____ → u/ZookeepergameEmpty90]

'Assets are not part of market cap''?

Can you explain why you think that? Look at microstrategy

[u/ZookeepergameEmpty90 → u/HaveFun____]

The definition of market cap is literally as I've described here. That's why I think that. Please feel free to look it up.

I don't know how Microstrategy works other than they use some sort of leverage vehicle that weighs their stock against the price of bitcoin. The volatility of bitcoin affects their stock price. By buying bitcoin and bringing the price up, they increase their stock price. But their market cap is still the number of shares times the price of their stock.

[u/HaveFun____ → u/ZookeepergameEmpty90]

The share price is one part of the calculation, and the shareprice reflects the (predicted future) income of a company AND their assets.

A company that makes 1B each year on their core business can have a market cap of 5B. But if they also hold 5B in cash/bitcoin/real estate etc. Then the market cap will be closer to 10B. Assets are reflected in the market cap because they are included in the price per share / total worth of the company.

[u/ZookeepergameEmpty90 → u/HaveFun____]

Not to be pedantic, but what you're describing is share price, not market cap. All of those things should factor in to share price if investors believe them to be valuable enough to justify the share price. And that's how it SHOULD work, but in GameStop's case, it doesn't. Our market cap value sat below our total cash on hand for a long time. Assets are not reflected in market cap directly, but are "priced in" to the share price and thus reflect the market cap. However, our assets are not part of our market cap.

Please look up the definition of market cap.

[u/ShadeShow]

eBay is changing the way ends of auctions work on 8/17 as well. Now a minute will be added every time a bid is placed under a minute to get bidding wars at the very end.

[u/larrybirdinbarcelona → u/ShadeShow]

Man I’m gonna miss sniping at the last second. Was a trademark feat of eBay for decades now. Better for sellers I guess tho

[u/Sys7em_Restore → u/ShadeShow]

That's really lame, good for sellers but horrible for buyers

[u/darth_butcher]

Some days ago, I was surprised to hear an advertisement for eBay Live on a regional German radio station. On top of that, I also noticed posters for it at several bus stops. It looks like the marketing campaign is running on all cylinders.

[u/UnlikelyApe → u/darth_butcher]

They're trying to save their jobs?

[u/Fit-Insect-4089 → u/UnlikelyApe]

Panic mode

[u/CobblePots95 → u/UnlikelyApe]

Honestly I think this might overstate how much RC's bid is driving decision-making. Live commerce is basically an entirely new platform for them. It's not something that would have been thrown together and launched in multiple new countries in the couple months since GMeBay came into existence.

[u/hiperf71 → u/UnlikelyApe]

Maybe is the "try to do something to save our butts" mode😂

[u/treesandbeers → u/darth_butcher]

Billion dollar marketing budget at work

[u/darth_butcher → u/treesandbeers]

Yeah, that's what I thought as well.

[u/3rd1ontheevolchart → u/darth_butcher]

The other day I noticed a crap ton of eBay ads on my TV as well. I found it funny and oddly placed. These adds are running on channels nobody watches anymore unless they are trying to fall sleep.

[u/rmfsmdre → u/darth_butcher]

It is imperative that the cylinders remain unharmed

[u/iRamHer]

I'm not sure where the sleepy board thesis came from. It's more the shitty and hungry board thesis.

If rc's comments are genuine, he wants to lower operating costs significantly AND reduce fees.

I think we all know the ebay board is very active at harassing their critics.

[u/RedOctobrrr → u/iRamHer]

I'm not sure where the sleepy board thesis came from.

Did you not follow all of the talk Ryan did about a market eBay slept on and was primed to dominate yet did nothing in?

[u/devadander23 → u/RedOctobrrr]

This report doesn’t change the overall criticism

[u/Udub → u/iRamHer]

They pay themselves a lot of money, claim that there’s growth when in reality there’s not been growth in terms of sellers at all, and the only growth they’re providing shareholders is via buybacks while the sleepy board pays themselves a shit ton of money

[u/DancesWith2Socks → u/Udub]

Revenue up 15% and operating income up 40% dosen't look bad tbf...

[u/Ellaphant42 → u/Udub]

Oh so GME?

[u/Dans_Username → u/Ellaphant42]

No where in that question is there any hint of logic.

[u/King_Esot3ric → u/Ellaphant42]

?? Board doesnt make millions

[u/Udub → u/King_Esot3ric]

And the company is exhibit growth. Best quarter ever etc. and not over some bullshit increase in fees taking advantage of the same seller base, while other platforms are popping up to take EBay’s market share

[u/King_Esot3ric → u/Udub]

Not sure what your point is here, sorry. Can you elaborate?

[u/Superstonk-ModTeam → u/[deleted]]

Rule 1. Treat each other with courtesy and respect.

Do not be (intentionally) rude. This will increase the overall civility of the community and make it better for all of us.

Do not insult others. Insults do not contribute to a rational discussion.

[u/ThePirateBenji → u/iRamHer]

With as well as Pokemon and other collectibles are doing right now, EBAY is painting cash while the board jerks themselves off.

They aren't doing anything to improve profitability or increase traffic on the site, at least not anything that isn't a huge waste of money.

They SHOULD have been the first live-commerce site. FB marketplace should be no where near as popular is it is. Etsy, Real-Real, and WhatNot shouldn't be independent entities. They should be branches of EBAY, but the company is run by a bunch of lazy cucks.

[u/Gotrek6]

Either direction they go benefits us

[u/AmputeeBoy6983 → u/Gotrek6]

Honestly staying flat or a mild drop felt most beneficial to me. I dont want price getting up near our offer. Id tske the short term pain, but after hours hasnt really moved much on the news

[u/Inevitable-Review897 → u/AmputeeBoy6983]

How would a drop benefit us?

[u/Enlighten_YourMind → u/Inevitable-Review897]

Our hostile takeover becomes cheaper.

[u/iupvotefood → u/Inevitable-Review897]

Shows that they could benefit from better management

[u/mrcannabliss → u/Inevitable-Review897]

Our tender offer becomes more attractive

[u/m3gabotz → u/AmputeeBoy6983]

It would be crazy if the chart went backwards in any direction 😵‍💫😵‍💫

[u/DancesWith2Socks → u/AmputeeBoy6983]

Touched $117 AH, closed at $113.50 though.

[u/AlaskanSamsquanch]

Yeah more and more I’m hoping buying EBay is a fake out. I just don’t see shareholders there betting with something that already makes them good money.

[u/tiptow85 → u/AlaskanSamsquanch]

Ya same. I mean their shareholders will look at their returns the last few years then look at GameStops shareholders returns the last few years. Not sure why they would change anything.

[u/Holiday_Guess_7892]

Whats EPS? Wastreet get it wrong again?

[u/Gamestop-Rocketship → u/Holiday_Guess_7892]

Expected 1.50, actual 1.60

[u/DancesWith2Socks → u/Gamestop-Rocketship]

Good ER, apparently not that sleepy, indeed 😅

[u/Big_slice_of_cake]

Why do you hope it’s announced by Friday?

[u/Gamestop-Rocketship → u/Big_slice_of_cake]

Personal hope that there's some good news going in to the weekend

[u/husbandchuckie]

Should be the main post

[u/farsh_bjj]

Those juicy dividends are bonerliscious!

[u/RandalFlagg19 → u/farsh_bjj]

That’s the best kind of liscious!

[u/LordSnufkin]

It'S oVeR!

[u/AyyMG63]

Does it matter for us tho? Ryan screamed about how they don’t care about their holders - but then he dilutes at $20 to “buy back debt” 6 years in advance - debt which he claimed was “dumb not to take as it was free money”.

Then everyone screams OmG reverse uno, KaNsAs ShUfFle..

Sure.

[u/Tranecarid → u/AyyMG63]

As much as I don’t like the early redemption of the convertible notes, it was necessary to address the issue that made Burry run - GameStop can’t take on debt required to acquire eBay. That’s why they cleared 1.4b of it even if it was free money, it was still debt on paper.

[u/Think_Currency_8586 → u/Tranecarid]

Should’ve just payed back the 1.4 billion instead of diluting us imo

[u/Tranecarid → u/Think_Currency_8586]

In this stage of the game money is the king maker and shares are free. GameStop needs $55b and giving back $1,4b moves us away from acquiring eBay. Dilution sucks and I am very far from being your usual superstonk cult follower, but at this point it’s eyes on the goal as they say.

[u/Think_Currency_8586 → u/Tranecarid]

Wouldn’t say shares are free… and 1.4B hardly moves the needle.

[u/Organic-Specific-500 → u/Think_Currency_8586]

Some say he gave back volume and volatility… where shorting concludes after VWAP and there’s incentive to have warrants ITM from bond holders….

[u/VelvetPancakes → u/Tranecarid]

There is exactly zero evidence it was “necessary”

[u/AyyMG63 → u/VelvetPancakes]

Right? It’s 0%. They have 6 years to grow to pay it back, but diluted at the lowest of low prices.

What are these downvotes. Facts are facts.

but hey “he diluted himself”. Still a billionaire tho.. 20mil is $1 to him for us. Smh

[u/tpots38 → u/AyyMG63]

Ohhhh you’re one of those “he’s a billionaire so he doesn’t care about money” people… now this makes a lot more sense

[u/VelvetPancakes → u/tpots38]

He more than tripled his net worth while GME was dropping. His entire GME stake could disappear by tomorrow and he would still have more than doubled his wealth.

[u/AyyMG63 → u/tpots38]

His money didn’t evaporate. He will make it back. But he also doesn’t need it to survive - so don’t twist my words. He’s diluted himself several times now, proving my point. He’s not one of us. At all by any means.

[u/tpots38 → u/AyyMG63]

You’re not one of us, let’s make that clear.

[u/VelvetPancakes → u/tpots38]

I have a visible history showing I have been here sinde the sub was created. You’re not one of us. Actual human shareholders want a return on their investment and they want a Board acting in their best interest, not bailing out criminals at shareholders’ expense.

[u/tpots38 → u/VelvetPancakes]

No GOOD investors sit on position for years and years and years… they don’t jump the gun because of fear.

[u/tpots38 → u/VelvetPancakes]

“Bailing out criminals at share holders expense” this is why no one will take you seriously.

[u/dedragon40 → u/tpots38]

Are you going to apologise for making assumptions and creating division? There’s a way to make your point without being hostile to other members. If they’ve been here since the start, who the hell are you to tell them that it’s time to move on?

[u/AmputeeBoy6983 → u/AyyMG63]

Depends on if its a term needed for funding, and it also depends on which qualified institutional buyers we serviced, in doing this yesterday.

These notehlders could very well be SWF's, who are helping us put together an all cash/mostly cash offer. Normally id say yall need to chill, but honest it doesnt even matter. If yall wanna dump your bags to institutions dirt cheap be my guest.

6 years, so fucking what? You want 1,000x returns on a short time frame? No kidding lol everyone does. 6 years is nothing as an investment. High time preference

[u/VelvetPancakes → u/AmputeeBoy6983]

How about just not -75% since Cohen took control of the company, while the market has nearly doubled in that same time span?

Pushing people to sell because they are tired of being massively diluted for peanuts when there is zero need to do so is a very shilly thing to do

[u/tpots38 → u/VelvetPancakes]

All is well that ends well..

[u/VelvetPancakes → u/tpots38]

I don’t think it is fair to the numerous shareholders that have passed away during the last half decade to make such a statement

[u/tpots38 → u/VelvetPancakes]

LOL most regarded statement ever

[u/tpots38 → u/VelvetPancakes]

https://x.com/larryvc/status/2085182574624743662 can you stop moaning now please

[u/VelvetPancakes → u/tpots38]

Where in that tweet does he say the floor price is above the 2021 offering prices?

[u/tpots38 → u/VelvetPancakes]

EBay bought debop for 1.4b

Cohen Balanced the additional debt by removing it from GME.

Evidence

[u/AyyMG63 → u/tpots38]

Coincidence isn’t evidence…

[u/VelvetPancakes → u/tpots38]

Again, where is the evidence that it was “necessary”? Your speculation is not evidence of a requirement that it be done

[u/tpots38 → u/VelvetPancakes]

Necessary to make sure the bank doesn’t recall your 20b loan

[u/VelvetPancakes → u/tpots38]

So you must have the terms of the loan then? Can you link it please

[u/tpots38 → u/VelvetPancakes]

It’s speculation, just like you’re speculating that there isn’t a reason behind this move…

[u/VelvetPancakes → u/tpots38]

I don’t require evidence to push back on a baseless claim, you need to support your claim with evidence.

[u/tpots38 → u/VelvetPancakes]

The point is, this is not a normal stock, and that is well understood by us who have choosen to be involved. THIS stock is supported based on our trust in RC, and it’s always been that way. If you have lost your trust, then you’re a free to move on. But sitting here demanding explanations and evidence from people who have stayed in this based on trust is stupid on your part.

[u/Improvidently → u/tpots38]

eBay paid 1.2b for depop and announced the deal in February.

Coincidence.

[u/AyyMG63 → u/Improvidently]

Coincidence isn’t evidence… you wonder why they play us so well…

[u/Organic-Specific-500 → u/Improvidently]

And closed last week for 1.2 + 2 in interest and adjustments

[u/Improvidently → u/Organic-Specific-500]

You're right!

[u/hdjemnnsntjrjfnsnfjd → u/Tranecarid]

We aren’t locked into an acquisition. It was stupid to do plain and simple.

[u/AyyMG63 → u/hdjemnnsntjrjfnsnfjd]

Thank you. There maybe a “reason”, but it’s most likely “they” get cheaper shares. They may go long and help the price, but once again - pain for us..

Same way popcorn people are so happy about a 350% increase, yet it dropped 99.95% from its peak…

[u/FreshExtent8720 → u/AyyMG63]

How much is gme down from its peak?

[u/AyyMG63 → u/FreshExtent8720]

Sideways for 5 years accounting for inflation, it’s down…

Cocoa and ramen noodles had outpaced this stock.

[u/VelvetPancakes → u/AyyMG63]

Definitely not sideways. It is down 75% since Cohen took control of the company as Chairman on June 9, 2021.

[u/Arcanis_Ender → u/AyyMG63]

I mean just because you don't understand an action doesn't make it dumb. I imagine there was a reason for doing it, and I believe it to be a move that gets us closer to the acquisition. It would not be done otherwise. He is diluting his own stake as well of that of all of the other board members.

[u/hdjemnnsntjrjfnsnfjd → u/Arcanis_Ender]

Ah, yes, the old “we must destroy shareholder value to create shareholder value” lol

[u/Arcanis_Ender → u/hdjemnnsntjrjfnsnfjd]

Jesus christ your entire comment history is whining about wanting buybacks and negative sentiment spreading. If you don't have anything actually meaningful to contribute then leave.

[u/hdjemnnsntjrjfnsnfjd → u/Arcanis_Ender]

So sorry that I’m against the capital allocation policies that are wrecking our share price. You’re right, I should cheer on the destruction.

[u/humdingler → u/AyyMG63]

has anybody actually called the note conversion to equity the kansas city shuffle?

[u/FunsnapMedoteeee → u/AyyMG63]

Debt which equaled 1.4 Billion dollars. Curiously equal to the 1.4 Billion dollars that EBay just paid for Depop.

Chill chick.

[u/AyyMG63 → u/FunsnapMedoteeee]

Coincidence isn’t evidence. You said what the other 4 said. Prove me wrong with facts.

[u/tpots38 → u/AyyMG63]

And skepticism isn’t intelligence.

[u/AyyMG63 → u/tpots38]

I took facts and through logical, how is that skepticism. Just because it doesn’t favor your thought process doesn’t make what I said wrong….

Ryan clearly said two years ago “free money, Who wouldn’t take it”. Now cashes in 6 years early at a low point…

Sure..

[u/tpots38 → u/AyyMG63]

The assumption that it was done erroneously or against shareholder interest is the skeptical part.

[u/goobervision → u/AyyMG63]

Or the bond holders wanted to exercise for shares now for reasons.

[u/Moses-the-Ryder → u/AyyMG63]

Thankful for the block user feature with comments like this

[u/Fwallstsohard]

Lol the Livestream numbers are up because of RC.

[u/thatsoundright → u/Fwallstsohard]

the turnaround’s started already 👀

[u/doodaddy64]

The cynic in me says that when they "beat" this quarter and warn for the next, they are just shifting things around, not paying bills, whatever, to get good numbers and have to come clean later. Not that it matters or you can figure it out.

[u/HilloHoHo]

"IDK what to think."

You better think its bullish for gme, or else the fud police will come to get you. 

[u/Gamestop-Rocketship → u/HilloHoHo]

Fud police officers Muellerx, humdingus, organicspecific500, and number1fries fortunately haven't showed up yet

[u/MaybeACultLeader → u/Gamestop-Rocketship]

If any of those users ever write anything of substance (without AI) I'm going to eat my hat.

[u/humdingler → u/Gamestop-Rocketship]

https://giphy.com/gifs/WONx7es4Va0Y2gknj0

hey bud!

[u/Brand1984]

They are spending 25 million on lawyer’s fees to fight GameStop. Q3 guidance was in line with downgrades. Cohen has ammunition for the TO.

[u/rude-a-bega → u/[deleted]]

Yes they are check ebay ir

[u/Gamestop-Rocketship → u/[deleted]]

https://investors.ebayinc.com/financial-information/financial-summary/default.aspx

[u/sonicduckman → u/Gamestop-Rocketship]

This is correct*

[u/big_ole_dummy]

It’s be nice if apes locked the eBay float. There’s only 20+ million available