May 3rd, 8:00 p.m., in the U.S. after-hours session, multiple U.S. stocks saw sharp moves following the market close.

eBay moved sharply higher in after-hours trading, with the stock up about 9% at one point as investors reacted to a potential $56 billion takeover bid from GameStop.
GameStop CEO Ryan Cohen has proposed acquiring eBay for roughly $56 billion, offering $125 per share in a mix of cash and stock, representing about a 20% premium to eBay’s latest closing price. GameStop has quietly built a roughly 5% stake in eBay and is prepared to launch a proxy fight and take the offer directly to shareholders if the board rejects the proposal.
Analysts note that the bid, if formalized, could significantly re-rate eBay’s valuation by embedding a takeover premium and reviving the narrative of eBay as a strategic e-commerce platform rather than a mature, ex-growth marketplace. However, they also caution that regulatory scrutiny, financing complexity, and potential resistance from eBay’s board could limit the probability of completion, meaning eBay’s after-hours surge largely reflects optionality on a contested M&A process rather than a done deal.

GameStop also traded higher after-hours, with the stock up around 3% at its intraday peak as investors digested the bold acquisition plan targeting eBay.
Under Ryan Cohen’s leadership, GameStop has made an unsolicited offer to buy eBay, aiming to transform the combined company into a stronger competitor in the broader e-commerce space and to reposition GameStop beyond its legacy brick-and-mortar video game retail model amid declining physical game sales.
Market strategists point out that while the deal could, in theory, give GameStop access to a much larger marketplace and digital infrastructure, it would also dramatically increase execution and financing risk for a company whose fundamentals remain volatile. The mixed cash-and-stock structure, potential shareholder dilution, and the likelihood of a drawn-out proxy battle mean that GameStop’s modest after-hours gain reflects more speculative enthusiasm around Cohen’s activist playbook than a clear improvement in near-term earnings visibility.

Top Gainers in Tonight’s After-hours Session (TOP 5)
Skycorp Solar Group Limited After-hours +81.15%
Advanced Biomed Inc. After-hours +49.72%
DevvStream Corp After-hours +27.62%
Celularity Inc. After-hours +23.30%
Lunai Bioworks After-hours +21.63%

Top Losers in Tonight’s After-hours Session (TOP 5)
Origin Materials Inc. After-hours -36.47%
22nd Century After-hours -35.61%
AIOS Tech Inc. After-hours -17.50%
AdvisorShares Pure Cannabis ETF After-hours -16.76%
Tuniu After-hours -15.61%