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GameStop hits the limits of credibility with $56bn eBay bid | Nils Pratley
HABER
12.05.2026

GameStop hits the limits of credibility with $56bn eBay bid | Nils Pratley

The ‘meme stock’ company is remembered for Reddit traders sending its share price into orbit but its move on the auction site looks less likely to take off“Neither credible nor attractive.” No, not a line from a junior minister’s resignation letter on Tuesday. It was eBay’s succinct appraisal of the bizarre $55.5bn (£41bn) takeover offer from video games retailer GameStop, an affair that offers light distraction from the sight of UK 10-year gilt yields at 5%-plus.To recap: GameStop is the “meme stock” company that became famous a few years ago when amateur traders on a Reddit forum piled in furiously in an attempt to burn the short-sellers who were betting on the struggling retailer’s demise. Surprisingly, the Redditers succeeded beyond their wildest dreams. The squeeze drove up GameStop’s share price hundredfold, inflicting hell on serious hedge funds and making the company’s chief executive, Ryan Cohen, an anti-establishment hero. Continue reading...

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Guardian Business
Hong Kong ‘block trade king’ exploited bank lapse to make HK$1.7 million, court told
HABER
05.05.2026

Hong Kong ‘block trade king’ exploited bank lapse to make HK$1.7 million, court told

A prominent hedge fund manager took advantage of a bank’s “wholesale collective failure” to prevent illicit trading, making HK$1.7 million (US$217,012) in a single day by using confidential information to sell shares in a Hong Kong fashion house nine years ago, prosecutors alleged on Tuesday. British-born investor Simon Sadler is on trial at the District Court alongside the now-defunct Segantii Capital Management and former employee Daniel Anthony La Rocca Jnr over alleged insider dealing in the...

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SCMP Economy