Shares of GameStop rose 0.58% Wednesday morning, trading at $22.56 as of 10:11 a.m. EDT, up 13 cents on the day, as the video game retailer continues pressing forward with its unsolicited pursuit of eBay following shareholder approval of a major expansion to its authorized share count.

GameStop shareholders approved all proposals presented at the company's 2026 Annual Meeting on July 7, including an amendment to increase the number of authorized Class A common shares to 2.5 billion. The amendment received the affirmative vote of 68.7% of votes cast, giving the company significantly greater flexibility to issue stock in connection with major strategic transactions, including its proposed acquisition of eBay.

A Deal That Remains Unresolved

GameStop's pursuit of eBay has continued despite the online marketplace's board formally rejecting the company's unsolicited $125-per-share proposal earlier this year. GameStop Chief Executive Ryan Cohen has publicly reaffirmed his commitment to the deal on multiple occasions since the rejection, and has indicated plans to appeal directly to eBay shareholders in an effort to advance the acquisition, according to reporting from Yahoo Finance.

Cohen has been outspoken about his rationale for pursuing eBay, describing the e-commerce company as poorly run and burdened by excessive costs. In a further show of commitment to the deal, GameStop said in June that Cohen had given up the opportunity to receive a major performance-based pay package as the company intensified its pursuit of the acquisition. The company's board approved Cohen's request to remove the proposed chief executive performance........

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