Ryan Cohen’s GameStop, backed by a roughly $12 billion valuation, is exploring a bid to buy eBay, an online auction giant about four times its size. The company’s CEO acknowledged the plan may be “totally, totally foolish,” underscoring the high-stakes nature of a meme-stock driven push into e-commerce consolidation.
Avis Budget shares careened after a massive spike, then plunged about 70%, reigniting concerns over meme-stock fueled volatility. The shock rippled into the Dow Jones Transportation Average, long viewed as an economic barometer. The episode also spotlighted how the index’s price-weighted design can amplify damage from extreme moves versus market-cap weighted measures.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
