Can GameStop buy eBay?
5/12/202622 min
GameStop, the video game retailer and iconic meme stock, has announced an attempt to take over the much larger eBay. Today on the show, Rob Armstrong and John Foley talk about how a smaller company can take over a larger company and whether it’s even a good idea. Also, they discuss the rise of Cerebras, the chip maker challenging Nvidia, and go short Hyrox and long continuing inflation.
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Rob Armstrong· Host0:18
GameStop, the meme stock that listeners will remember was destined to go to the moon, has decided to stay on Earth instead, where it will attempt to buy a much larger company, eBay. Today on the show, can the mouse eat the lion? [upbeat music] This is Unhedged, the markets and finance podcast from the Financial Times and Pushkin. I am Rob Armstrong, coming to you from an unseasonably chilly New York City. And joining me in the studio is the head of the FT's Lex column, John Foley. Hi, John.
John Foley· Guest0:57
I'm here to announce that Lex is performing a hostile takeover of Unhedged.
Rob Armstrong· Host1:02
Oh, man. I'm calling my lawyer.
John Foley· Guest1:04
I don't think I want that.
Rob Armstrong· Host1:04
No [laughs]. My initial temptation on hearing that GameStop, which w- we last heard of when it was chased to unrealistic highs by adrenaline-addled retail investors, is trying to buy mighty eBay, was to dismiss it as a gag that would soon go away.