GameStop hits the limits of credibility with $55.5bn 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 offGameStop’s $55.5bn bid for eBay rejected as ‘neither credible nor attractive’“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 Red