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eBay Rejects GameStop's $56B Takeover as Not Credible

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Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#231

Post by SwellJoe »

WJW wrote: post #193
kotaKat wrote: post #21

Earlier quoted context omitted.

Meanwhile they're now working on getting approval to dilute out another billion or so shares: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001326380/0... "We are asking our stockholders to approve an amendment to our Third Amended and Restated Certificate of Incorporation, as amended by the Certificate of Amendment dated June 2, 2022 (the “Existing Charter”), to increase the number of authorized shares of our com…

I thought their stockholders were super into direct registration to trigger the "mother of all short squeezes" when (or so the conspiracy went anyway) all the evil hedge funds would have to buy back their alleged naked shorts for infinite money. That doesn't really play well with Gamestop putting 1.5 billion extra shares on the market, which is basically exactly the reverse of a short squeeze and would surely push do…

They're in an entirely alternate reality where those evil hedge funds did not fleece them for all they're worth. They got had, by GME insiders and by institutional investors. And, lots of people warned them, but they had belief and diamond hands.

I hate that this shit goes unpunished. Though, I guess the apes got mad as hell at anyone that tried to talk them down, or did anything to slow the bleeding.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#232

Post by wordpad »

tombert wrote: post #214
wordpad wrote: post #206

Earlier quoted context omitted.

>It seems like the incentives are to think short term and do sketchy shit to pump the stock. Its a meme stock, that's what stockholders actually want.

I'm arguing it's not "success". I don't believe that a meme stock is a truly long-term business.

>I'm arguing it's not "success". I don't believe that a meme stock is a truly long-term business.

Duh. Crypto is the peak meme investment. Literally worthless, yet the market size is in trillions now, with even pension funds buying into it.

It doesn't follow any fundamentals, but as the meme markets defacto exist, there needs to be some models of valuing these investments other than fundamentals.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#233

Post by Scoundreller »

Edman274 wrote: post #141
boringg wrote: post #14

Earlier quoted context omitted.

I mean they make a good point -- ebay isn't a serious company anymore. It really needs someone with a vision to rebuild it. That its limping along and executives are essentially bleeding a previously valuable internet asset dry is kind of sad.

They can't rebuild it. Facebook Marketplace is allowing people to buy and sell locally for free with systems for managing fraud that are more robust than Craigslist. How do you rebuild when a way larger company - with a side project of theirs - offers one of your core businesses for free?

eBay has always competed with print and online classifieds. And started the successful Kijiji (in Canada). If what you’re selling is niche enough, local doesn’t work, and has a lot of friction unless it’s something too big to ship.

I like to pay the cheapest price humanly possible but there’s often value in just paying the shipping and online premium. As a seller, it’s easier to put up a posting whenever I feel and stuff it in a box and label it only when I have cash in hand.

+ there’s some geo-arbitrage for sellers: chances are the person willing to pay the most isn’t local to you.

EBay is still more friction than Amazon and eBay commissions are like 16% these days so eBay’s completely lost the giant pie that is mass-manufactured goods.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#234

Post by croes »

SwellJoe wrote: post #133
croes wrote: post #97

Earlier quoted context omitted.

Show me any platform that successfully prevented scam.

eBay ten years ago. (At least, much more effectively than now, where a large percentage of listings in some categories are scams.)

Just because they got worse doesn’t mean they were good.

The reason why it’s worse now is that automation of the scammers got better, it was more of a manual job back then.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#235

Post by tombert »

wordpad wrote: post #232
tombert wrote: post #214

Earlier quoted context omitted.

I'm arguing it's not "success". I don't believe that a meme stock is a truly long-term business.

>I'm arguing it's not "success". I don't believe that a meme stock is a truly long-term business. Duh. Crypto is the peak meme investment. Literally worthless, yet the market size is in trillions now, with even pension funds buying into it. It doesn't follow any fundamentals, but as the meme markets defacto exist, there needs to be some models of valuing these investments other than fundamentals.

Sure, and I think that these things will, eventually, crash. I suspect GameStop will before Bitcoin, but I think both will eventually.

The market can stay irrational for a very long time.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#236

Post by hattmall »

burnte wrote: post #201
hattmall wrote: post #188

Earlier quoted context omitted.

I've sold on eBay for over 20 years and millions of dollars. I would like to know more about your experience as a seller where you had disputes handled poorly, especially one that cost you $700?

I'm not the commenter, but about 20 years ago when ebay owned paypal still, I sold 26 iPod nanos in a big sale on ebay. Everyone received theirs except one guy, and the tracking showed the shipper lost it, in that the package just stopped being scanned in the USPS system halfway through. He complained, completely understandable! eBay froze my account, froze the payments for all 26, and I never saw the money ever agai…

Ok. I've been through that, though it is a function of Paypal. You can absolutely recover the funds from a limited account. 20 years later, I would still pursue this. In fact, if you aren't able to log in I would check with the unclaimed property division of the state your account was registered in when you had the account. PayPal and eBay are publicly traded fully audited companies, there is no, we just get to keep the money scenario.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#237

Post by hattmall »

FireBeyond wrote: post #211
hattmall wrote: post #188

Earlier quoted context omitted.

I've sold on eBay for over 20 years and millions of dollars. I would like to know more about your experience as a seller where you had disputes handled poorly, especially one that cost you $700?

I sold a Mavic 2 Pro drone with 5 batteries. The whole process was a mess. Scammer initially complained that it didn't come with a CrystalSky tablet that was in one picture (that was only added AFTER after he had bid already and asked to see Flight Logs, and was explicitly disclaimed as not being a part of the package, nor was it in the receipts I sent the buyer). After pointing out those details, silence. Then, thre…

Sorry that happened, scammers are the worst. Yeah unfortunately here the refund being sent proactively was the issue and eBay isn't really able to recoup those funds. Ex: the buyer used a credit card, you refund and it goes back to his card on the original authorization. Your dispute can't go anywhere because eBay isn't able to just reauthorize the buyers card without their consent.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#238

Post by WJW »

SwellJoe wrote: post #231
WJW wrote: post #193

Earlier quoted context omitted.

I thought their stockholders were super into direct registration to trigger the "mother of all short squeezes" when (or so the conspiracy went anyway) all the evil hedge funds would have to buy back their alleged naked shorts for infinite money. That doesn't really play well with Gamestop putting 1.5 billion extra shares on the market, which is basically exactly the reverse of a short squeeze and would surely push do…

They're in an entirely alternate reality where those evil hedge funds did not fleece them for all they're worth. They got had, by GME insiders and by institutional investors. And, lots of people warned them, but they had belief and diamond hands. I hate that this shit goes unpunished. Though, I guess the apes got mad as hell at anyone that tried to talk them down, or did anything to slow the bleeding.

> I hate that this shit goes unpunished.

The apes did get punished though? And the hedge funds correctly took advantage of irrational behavior by other actors in the market. This is how price-finding in the markets is supposed to work, I can barely call that "evil".

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#239

Post by conorcleary »

mrguyorama wrote: post #156
noelsusman wrote: post #142

Earlier quoted context omitted.

...ya'll are still doing this?

It's a literal cult. They have to believe there's some magic future where they magically end up controlling the world still, because otherwise they've been pumped for money they couldn't even afford.

Doing things the hard/proper way takes time and patience.

Re: eBay Rejects GameStop's $56B Takeover as Not Credible

#240

Post by conorcleary »

Topfi wrote: post #134
conorcleary wrote: post #96

Earlier quoted context omitted.

He works his ass off. You obviously can't spot a bear trap :-) The lower range of $GME the past couple of years is nowhere near where the shorts are going to have to buy-in.

If diluting your stock is a magical infinite money glitch, why doesn't Cohen just buy Nvidia? Heck, I think GOOG is now the most valuable, why not both? Throw TSLA in while you are at it and AMZN, I am sure there is some synergistic potential.

Remember the term vapourware?
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