TD
Toronto Dominion Bank
stock NYSE

I don’t disagree that Cohen can trim the fat. But people seem to forget that this will wipe out GameStop’s $11b war chest, add $20b of debt if that TD note goes through, it’s going to be a long climb back under really uncertain circumstances

You’re speaking about a private equity style LBO correct? As those do exist, that’s not the case here. This is your interpretation of the deal, however not the only one in existence. To say you’re absolute, would be to lie, just as myself. However I’m giving structured debate here, while you’re cherry picking.
Now, I don’t believe it’s a PE extraction play, and why? What you’re ignoring is the strategic overlap of brick and mortar alongside an online live commerce site. That and a CEO who wants what the sellers of eBay want.
Lastly, Say you’re a lender. Would you lend to a company that isn’t in favor of the shareholders? No, you wouldn’t, so then why would TD?
They know something you don’t, that’s the price you pay to be a bank. Personally, I’d rather research it all than back myself into a corner with limited knowledge. Not a great look.

It’s an LBO. Cohen plans on using eBay’s cashflows to pay off the debt. What bank wouldn’t agree to that? The issue is that there isn’t a benefit to GME or eBay shareholders this way. Cohen gets to make money off his executive plan and TD makes bank but that’s it. That is assuming his “cost” cutting doesn’t kill eBay and bankrupt everything.

I think he brings up fair points as a person, of many, who aren’t invested in the stock nor have taken much time to research into the bull thesis of these operations. It’s only fair as he is miseducated on the subject, and that this would be the response.
It looks insane to the public eye, but it’s also good to be mindful, TD would not have backed the idea with $20 billion if there wasn’t an entire thesis already created, on paper, and given to TD in order to get this type of backing. Ryan wouldn’t also have backing of billions of dollars through 0% convertible notes (no interest, no one on earth would do that without 100% conviction).
He’s a doomer at heart, gotta give him that, but you’re being ridiculous if you’re batting an eye instead of researching, even just for the sake of learning more.

Wichtig im Allgemeinen noch, dass Sektor ETF eine höhere TER aufweisen, aber auch die Tracking Difference TD beachten die im Long Run teilweise noch wichtiger sein kann als TER.

Just another sign that the deal is happening and TD is sponsoring clients to help bring it capital … 3 days after our deal is announced.
Makes me think I need exposure to eBay calls since the market isn’t pricing in the $125 upside 🧐

Cohen is playing you. Why is no one here talking about dilution?
If I can convince even one person to step outside this echo chamber and think critically about this company again, I’d consider this post a success. This is coming from an original ape.
I was here in 2021 for the original squeeze.
I was here when DFV testified before Congress.
I wrote DD and direct registered my shares.
None of it mattered.
We saw him do it with the towel stock, he came for them publicly, bought a bunch of shares up, teased a takeover, then dumped after the pump and the stock crashed.
Now look at the eBay deal.
The reported offer is around $56 billion, structured as roughly half cash and half stock.
GameStop currently has:
\-\~$11 billion market cap
\-\~$9 billion in cash
\- a reported \~$20 billion TD financing note (though even this isn’t guaranteed)
That puts total available firepower at roughly $40 billion.
Which still leaves a $16 billion gap.
So how is that funded?
“”Check the website”” isn’t an answer lol.
He actually answered on CNBC if you were paying attention: Issuing new stock.
At a $25 share price and \~450 million shares outstanding, raising $16 billion via equity would require:
≈ 640 million new shares issued.
That means total shares would go from \~450 million to \~1.09 billion shares.
In other words, existing shareholders would see ownership diluted by roughly 60%+ in order to close the funding gap.
And that assumes:
\- the stock stays at $25 during issuance
\- the financing note is fully accessible
If the market starts pricing in dilution risk (which it usually does in large equity-financed acquisitions), the share price falls — and the number of shares required increases further. That creates a feedback loop where dilution pressure increases as confidence decreases.
That’s not even getting into the specifics of GME as a business.
Digital e-commerce sales are down 26% YOY. Software game sales were down 28% YOY, which is shocking considering that the digital game market is growing as people forsake physical games.
Cost-cutting has improved efficiency, but efficiency is not the same as growth.
Ironically, eBay is in a much healthier spot, reporting 17% YOY revenue growth.
This is not going to go the way you think it is.

\-Is RC using GME as leverage to buy ebay or is it coming out of his own business account?
* People will troll the reality is we dont know. We pay 27B~ Cash, 7B we have 20B we loan from TD Bank. The other half is a mystery as of now.
\-If hypothetically it goes down on monday does gme rise or ebay?
* Ebay ticker ceases to exist. GME absorbs all of it. Market Cap goes up. Price itself depends on the second part above that we dont know
\-Will it end up being two separate tickers or will they merge?
* One. GME
\-If they merge, what happens to warrants?
* probably no change, but i would have to read to confirm
\-If they merge what happens to both tickers?
* GME stays. EBAY gets delisted
\-If it doesn't go through, what then?
Likely GME sells its EBAY calls and makes
* ~200M in profit

I remember the year he put on a *single* trade... and it lost money. Don't think I've heard of TD Sequential since.

I don’t even know how they didn’t understand the math.
Half cash, half stock.
Ebay shareholders keep their stock, it changes tickers, and they receive $62.50 per share.
GME has 20 billion dollars from TD Bank and 9 billion in cash on hand. That’s more than enough to cover it.

Can having Bi polar be considered a preexisting injury for trip cancellation insurance with TD infinite and Wealthsimple card

Zero communication, it's unfathomable that a bank in Canada can get away with this. 71 calender days from order date.  I walked into a TD and asked what they can do. They literally brushed me off saying to keep waiting. I asked what if it's another 2-3 months and they said it could be. Awesome. No returns, no refunds but they have my money, I don't have any PM from them.  

The main points are basically:
1. GameStop is attempting to buy a company almost five times its size ($56B bid vs. $12b market cap). To fund the "stock" half of the deal, they would need to issue over a billion new shares, but their corporate charter only authorizes 1 billion total, and nearly half are already in use. They are literally trying to pay with currency they aren't yet legally allowed to create.
2. The cash portion relies on a "highly confident”letter from TD Bank, which is non-binding rather than a guaranteed loan. Even if they got the $20B, GameStop's current earnings can't support the interest; the plan relies on using eBay's own cash flow to pay for its own hostile takeover, a move institutional investors would probably find reckless.
3. The strategy hinges on using closing GameStop retail stores as "authentication hubs" for luxury goods. Around 400 of the 1,600 stores are currently marked for closure, and the staff aren’t trained to verify all types of collectibles. Critics, including Michael Burry (who just sold his entire stake), see this not as a serious business move, but as "empire building" designed to artificially inflate GameStop's market cap so Ryan Cohen can hit his $35b bonus targets.
4. Trolling and being scant on details in interviews about the proposed deal may play well with existing retailer investors, but it’s not going to win over institutional shareholders who have to decide whether to vote on this deal.

I am not an ape, just someone asking questions.
I see everywhere how this deal is utterly idiotic.
If it is so ridiculous, why is it being proposed? If the math doesnt work what is missing or could be missing? If he proposes a 60/40 split and its not even close to reality, doesnt that just hurt the deal altogether? Is it even math related? Cohen has stated this has never been done before and that theyre trying something sort of, out of the box - now i have 0 idea what that means or could entail whatsoever.
Im no expert, but want to understand more.

I plugged your post into chatgpt, it verified your information as correct. I then asked the Question "so how is this deal possible in a 60/40 split in Ownership? What is cohen really proposing?"
And it replied something very lengthy that i dont believe will all fit here... but this is the final tidbit:
A 60/40 ownership split is only possible if the deal is being valued off **GameStop’s market capitalization as acquisition currency**, rather than off underlying enterprise value economics.
That’s the crucial distinction.
If GameStop stock is treated as “real” acquisition currency at an $11B equity valuation, then in a stock-for-stock merger you can mechanically engineer many ownership splits.
But whether the market *continues* valuing GameStop that way after announcement is the real question.
Your framework is fundamentally:
>
The bullish framework is:
>
Those are two completely different valuation systems.
That’s why:
* skeptics focus on EV math and dilution,
* while enthusiasts focus on strategic narrative and future optionality.
And in mergers funded largely with stock, narrative can temporarily matter as much as fundamentals — at least until the combined company must actually perform.

After reading the entire portion it has given me, it makes general sense in what's happening.
Hes proposing stategic value and after watching his Ebay interview a few hours ago with Justin Sells, it provides more insight on that thought too.
I still dont know if there are any other portions to the deal though...but... hes trying to convince people, wants to convince people, that ebay is going to become this massive full scale success instead of this stagnant company... Spread how much success hes had in his past with chewy and gamestop, shows he takes no pay, show what ebay is currently doing(or not doing), and capitalize on that change in sentiment towards it. Hes playing the social game. Thats why the math doesnt add up, because hes not using the math to do it, hes using the potential value of the joined company... Would TD loan him 20b on that type of deal? Why would Td loan that kind of money if it was an absolutely ridiculous idea?
has this deal really happened before? I asked chatgpt this question afterwards and it provided me a list of companies where this exact type of deal has been successful before. So it is possible, but it outlines:
"...success of these transactions usually relies on:
1. sustained premium valuation,
2. future synergies,
3. strategic transformation,
4. narrative momentum,
5. access to cheap capital."

I have a lot more to research and understand.

What are your thoughts on that kind of a deal and the sort of anti-math take?

I can explain the best I understand it but more wrinkle brains could do better.
TD Securities asked and received approval on May 6th that starting May 11th, they are sponsoring clients to finance deals and they’ll act as the clearinghouse.
The timing is insane. It’s TD preparing the plumbing to bring in bigger partners/ sovereign wealth funds, etc.

He did speak like he owned it … but we know that can’t be true because of filing regulations.
But what if TD has exposure as a hedge? Or RC knows the GME price is going to explode soon and we won’t need any dilution? He seems so confident this is a done deal.
I think by the time the vote comes up for his compensation or issuing more shares, the deals will already be done.

eh, HMAX is questionable; you are up like 15% yOy with another 10-12% paid out. Still well behind the leading three banks if you just bought and hold. TD is up over 70%, RY closing in on 40, even BNS doing better than HMAX.
HMAX is a good stock when banks trade sideways in a range for a long period so Nick can farm the CC premiums without forfeiting shares.

When I transferred to from TD to fidelity it went from 19 to 51 per share on my cost basis. I was pissed but I got over it.

like in one of those last TD interviews, they asked him about powerpacks i think, and he said they were doing really well and i think gave some numbers that i don’t remember… but his take home was inventory issues. The powerpacks sell out, and people are pulling from a shrinking pool faster than they can be added. That’s a good thing as they can address that, and probably why they have added other categories not only to peak others interests, but also give alternatives for when the one they want might not be available. Maybe try something new.
For example, if there was a $25 starters for a chance at a graded blue eyes white dragon from yugioh (i think a chase one would cost about $400, right on par with current chases of starters). id buy. But im always gonna go pokemon first…
Not to mention why we have seen others say that reps from gamestop are now attending card shows and buying out booths, good and bad cards. idk how true that is ive never been… but i’ve seen that in the card community subs.

I really couldn’t say. I have two different accounts and I think they used combined value. Since one was IRA and the other was brokerage, I was not combining them mentally. I may have been over a million at Schwab for several months before I got a notice. (Note I was a TD customer and both these accounts came over from TD, so that may have had an impact as well).
I mostly ignored them once I was contacted. I did end up using them recently though because I just retired. I got a free meeting with their CFP to work through whether I was financially prepared to retire. Thankfully they agreed that I was. And, they handled the rollover of my 401(k), because of course they’d be happy to take over another million.