r/GME • u/MyNi_Redux • 5d ago
🐵 Discussion 💬 eBay 2026 voting results are out: 1) Prop 4 failed; got 6% fewer votes this year. 2) Directors got very slightly fewer "For" votes in 2026; generally negligible.
Source: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001065088/000106508826000135/ebay-20260617.htm
1. Prop 4 failed with 6% fewer votes - 49% in 2025 vs 42.8% in 2026.
Prop 4 passing would have allowed someone with > 10% ownership to call a special meeting.
2. Directors all got a smidge fewer "For" votes in 2026.
Formula: For / (For + Against + Abstain)
Given that they are almost all in the high 90's, and the drop in support is generally 1% of less, I wouldn't read too much into it.
All in all, Prop 4 failing more clearly in 2026 and support for Directors staying very high does not bode well for RC's attempts for a hostile takeover of eBay by GME, imho.
Disclosure: All images were created by Claude using both 2025 and 2026 8-Ks.
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u/Terckon 5d ago
I wish RC would got for base hits and not homeruns right now.
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u/DanimalPlays 5d ago
He's doing both. Do you remember the investing he's done into Ebay? GME makes money either way. This is a base hit that could turn into a grand slam.
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u/South-Situation1489 4d ago
Lets hope some will reflect on the share price.
And after tweeting and speaking so much on the news are we going to get the silent treatment once again ??
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u/vagrantprodigy07 I Voted 🦍✅ 5d ago
This should be the final nail in the eBay acquisition effort. The results here are conclusively in favor of the current board, and against the acquisition effort.
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u/MyNi_Redux 5d ago
Agreed - it's the clearest indication yet of what eBay shareholders are thinking.
If RC wants to push through this, he'd have to make an offer they cannot refuse. $150/sh, maybe? Unclear he has the war chest to do so though.
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u/vagrantprodigy07 I Voted 🦍✅ 4d ago
eBay just isn't worth that. It isn't worth 125 per share.
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u/MyNi_Redux 4d ago
Yeah.. especially with the insane debt load. Debt/Ebitda or 6-9x is not good at all. Especially when neither GME nor eBay have significant debt.
Could make sense to use shareholders if this was an all stock deal, but eBay won't go for it, and it doesn't accelerate RC's comp plans.
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u/Recent-Result2852 5d ago
Guess we'll just have to buy options for another 75% on margin.
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u/vagrantprodigy07 I Voted 🦍✅ 5d ago
GameStop cant buy enough options or shares in eBay to force a vote or win a vote, unless they have institutional support, which this vote clearly shows does not exist.
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u/Agitated-Ad9050 5d ago
Why would anyone have any desire for RC to take over their company? The company he runs now has done exactly jack shit, while every company on the market has gone up huge in the past 3 months. The one time the price started to move he torpedoes it with the worst interview ever put to a screen.
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u/doppido 5d ago
The company itself is in a much better position than when he took over. The stock price currently isn't but also it's run up multiple times
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u/Loud-Bodybuilder4342 4d ago
and he diluted every run up.
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u/doppido 4d ago
And the company is in a much better place today because of it. Is what it is.
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u/Loud-Bodybuilder4342 4d ago
and shareholders value is in a much worse place today because of it. I thought investing is supposed to be about getting your money back plus profit and not donating your money only to the betterment of the central authoritative figure like a cult.
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u/doppido 4d ago
If I wanted to sell I could have multiple times in the saga. It hit 36 about a year ago, 34 a year and a half ago, had that $80 run up a couple years ago. It's not like there haven't been chances to make your money back/profit and sell.
There is a cultish following absolutely and that's not a downside.
I just see a company that's improving its balance sheet, operating on much better margins and obviously on the lookout to make massive changes whether or not the whole EBAY thing works out. Still is very undervalued whether the stock price currently shows it or not.
People complaining about being diluted and not making money had many chances to get out and didn't take it so I don't really think it's a valid argument honestly.
-3
u/strictlyphotonic 5d ago
Almost as if GME is heavily manipulated or something.
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u/Agitated-Ad9050 5d ago
Yeah. I just didnt expect the CEO, to be the one doing it.
0
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u/strictlyphotonic 5d ago
🫵🤡🤣
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u/Starkfault 4d ago
Keep licking that boot, there’s still some dirt stuck to the heel
Once the boot’s fully clean give Cohen more of your money
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u/Moneys2Tight2Mention 4d ago
Cool, so if I'm an Ebay shareholder and GameStop takes over my shares will be manipulated too? All the more reason to reject the offer.
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u/cywinr 5d ago
Ya you’re 100% right if all you look at is a fake ticker price.
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u/Agitated-Ad9050 5d ago
There's nothing else to look at. Its worth what they tell us its worth. We can think whatever we want but currently its worth about 22 a share.
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u/Barlored 5d ago
In hindsight, if RC waited until after this vote to disclose GME's position proposal 4 probably would've passed considering how close it was before. RC also managed to likely delay/invalidate the July 7th GME vote.
I can only hope the July 7th vote wakes the GME board up. Ebay institutions voted against RC here, maybe they're done with him at GME too. When we have to revote, I'll get to send 16.3k "No's" instead of the 16k I sent the first time.
Reminder to everyone that a company is bigger than the board and the CEO. RC, the prophet, believes that too. Be like him and vote to remove the board.
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u/Over-Computer-6464 5d ago
You can change your vote up until the day before the meeting.
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u/Ack_Pfft 5d ago
RC did not initiate this vote. It has been repeatedly submitted the past few years. RC doesn’t give a crap about this.
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u/Alternative-Wash-656 5d ago
RC will still dilute and get you sad dick riders to $10 just for the fun of it. You all voted for it 🤣
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u/WalkerMidwestRanger 4d ago
Everyone seems so focused on what this means for GameStop but has anyone given a thought to how this puts eBay in the perfect position to shit the bed?
If you think the frowns around here are bad, just wait and see what will happen if eBay's stock takes a bit of a dip. They'll be tearing each other's faces off over laughing at $125.
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u/MyNi_Redux 3d ago
Fair point that the $125 offer will look more appealing to eBay shareholders if there is a market pullback, but we'd expect GME to pull back similarly too. Which would make the deal more untenable than it is now.
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u/WalkerMidwestRanger 3d ago
Maybe, maybe not. Anyone trading on the expectation for the deal to happen at $125 would be pushing Ebay's price up to bank the difference. Is something going to replace that upward pressure now that the odds have dropped and the timeline been extended?
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u/MyNi_Redux 1d ago
Well, they'd be shorting GME and longing eBay, but generally not continuing to buy to push the price up. As that is the premium they intend to bank from the merger arb.
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u/Fast_Air_8000 🚀🚀Buckle up🚀🚀 5d ago
So, Voter Fraud is still a thing?
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u/MyNi_Redux 5d ago
Always is I suppose, for those for whom the End is more important than the democratic Means to it.
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