HOW IT STARTED: GameStop rally is warning that market bubbles have gone mad.

—The New York Post, January 27th, 2021.

How It’s Going: GameStop wants to buy eBay in an aggressive pivot to e-commerce. “The size mismatch is hard to overlook. GameStop carries a market value of around $12 billion; eBay sits closer to $46 billion. Despite that gap, GameStop has already been quietly building a stake in eBay ahead of a potential bid – a signal that [GameStop CEO Ryan Cohen] is willing to swing big rather than chip away at e-commerce incrementally. Markets moved fast after the news broke. eBay shares jumped more than 10% in after-hours trading, and GameStop climbed around 5%, as investors registered a mix of optimism and curiosity about what this combination could actually look like.”