Rebels Edge · Mon, May 4, 2026

GameStop’s $55B eBay Takeover?! Markets Go Wild

Summary

The hosts discuss rising oil prices and volatility, Bitcoin’s move above $80,000, and several major corporate developments. Stock coverage centers on GameStop’s proposed eBay acquisition, Amazon’s expansion into logistics services, and a reported take-private deal for American Express Global Business Travel, followed by college and professional sports commentary.

Eurozone manufacturing PMI reached 52.2 in April, described as its highest reading in more than four years.
Strait of Hormuz tensions pushed oil toward $107 before easing near $103; Pete viewed $110 as plausible on further adverse headlines.
The VIX approached 19 as major stock indexes weakened and oil-related uncertainty increased.
Bitcoin broke above $80,000, supporting crypto-linked stocks; the hosts interpreted the move alongside weaker gold as a shift toward risk-taking.
GameStop proposed a roughly $55 billion cash-and-stock acquisition of eBay at $125 per share; the hosts emphasized substantial financing needs and highlighted earlier eBay $106 call buying.
Amazon Supply Chain Services pressured logistics stocks, with the hosts warning of potential market-share losses and consolidation among established carriers.
American Express Global Business Travel reportedly agreed to a roughly $6.3 billion all-cash take-private deal with Long Lake Management at $9.50 per share.
Sports coverage featured NFL draft pick Red Murdoch, Big Ten revenue growth, and the Atlanta Braves’ strong start.

CRCL MSTR HOOD COIN GME EBAY FDX UPS CHRW AMZN XPO GBTG

Full transcript

Welcome back to the Rebel's Edge. A little different than usual, but nonetheless, the same as usual because I'm at an airport and Pete is somewhere else.
>> [laughter] >> We've got a great Rebel's Edge for you, folks. Bunch of stocks, some great movement in the market, and of course, Pete's Rebel Sports on today's Rebel's Edge.
>> [music] [music] >> Well, Pete, it seems like you're having a good time already.
>> Well, I can hear some voices in the background and they're not me and they're not you, but I know where you are, so >> [laughter] >> And given that it's Miami, it's a bunch of different dialects, too.
>> Right. Absolutely. [laughter] >> Well, let's dive right in, Pete.
I'm going to say macro today is that the S&P Eurozone manufacturing was actually up 350. It hit 52.2 in April. That's the highest reading Pete in over 4 years and it indicates that factories are coming back in a pretty big way. What do you got today?
>> I'm just going to say real quick it's these tensions with the the Strait of Hormuz. I mean that all you have to do is take a look at the oil prices, right?
I mean I think people don't pay enough attention to what's important. What you just brought up is very important. So what they're paying attention to is, hey how much is it going to be at the pump because we thought oil today get up to 107 hovering around 103 right now, but those oil prices meaning gas prices are really starting to ramp up down a lot
and people are going to feel it lately.
>> Yeah, and as they feel it Pete, it may or may not put a drag on the economy. It hasn't so far, but it's only been a couple months that we've been in this war 60 some odd days. How about your VIX Pete? What do you got going on there today?
>> You know what's interesting John because we did close underneath 17 on Friday going into the weekend and then all of a sudden we come up and here we are mid-17s. Then we got all the way up towards 19 in the highs and we're starting to approach that again, but we were we've been holding mostly around this settled area of call it 18 and a half, but now we're starting to see a
little bit more of a Dow going down and obviously watching the uh the the Nasdaq and the S&P kind of fall off a little bit and that's going to get that a little bit higher. So we're approaching 19 or maybe at 19 as we speak, but you know what it makes sense for the kind of move that we're seeing
not just the S&P. I'm talking about the mental side of oil and some of the other things John getting in people's head a little bit and makes them a little nervous for sure. That's why I think we're seeing a VIX at call it 19.
>> Well, um and Pete, exactly what you just said about oil is [clears throat] why I picked this for our prediction market today. Um will WTI world West Texas Intermediate in other words, light sweet, as it's called, hit
uh these prices in 2026. 115, 70% chance.
Over 110, 84% chance.
Um under 95, 75% chance. And under 90, 60 or 59% chance. So, the prediction markets are all kind of putting it down there, Pete, saying we may see higher and we may see lower. In other words, they're as confused as everybody else.
>> Yeah. And you know what? If being a betting man, which I kind of am, I guess, to some degree, I would go with the 110, 84%. I mean, we were just scratching up there, John, just today at 107. So, we kind of pushed our way up there. So, to get there, I don't think doesn't seem so far-fetched. And you know, obviously,
a couple of bad headlines about Iran and everything else and what's going on in the straight, and I think we could see this start to pop up just a little bit more. I don't know about 115. That seems like a long shot. But 110 seems to be right there and sniffing sniffing against it right now.
>> Well, let's dive right into stocks, Pete, because I know that's what people tuned in for.
Um crypto. And when you see that Bitcoin moves over 80,000, and you were talking about this last week. Uh the range had been like 65, 75. We started to push up to 77, and now we broke through 80. So, that really helped Circle, c r c l, and
a whole host of the other both stablecoins, as well as some of the players that hold a lot of Bitcoin, like MicroStrategy, now known as Strategy.
>> Mhm.
>> And And, John, I'll tell you, I'll go to the other side. What was the place that everybody wanted to park when they were watching what was going on with Bitcoin and stuck into that 65, 75,000 for a while.
Um how about the price of gold that got all the way up to 5300? Now today it's trading significantly lower, we'll let's call it 4500. Um, there were places that people were moving and now they've been moving them again, especially as we've seen this approach to the 1750 or 75,000, but now going all the way up to 80,000 plus.
Um, that says that people are are getting a little bit more of that risk on uh type of trading and I think that's exactly what we're seeing here and it's why so many names in crypto and you name a couple of them, I'll even throw out like a hood or something like that. Um, if crypto's going higher, those are the names that are going to go up with it.
>> Yeah, like Coinbase especially and you know, like you said Pete, any of the ETFs that are around it as well. Uh, and by the way, I'll be speaking at Crypto Mondays over in South Beach this afternoon in about two hours. Uh, 3:00 over there. I'll be there with Mark uh talking about trends in the market and
so forth and then doing a dinner with a bunch of uh of people that might want to have a little something to do with our investment bank you and I started this past year, Pete.
>> Bank.
>> Yeah, bank.
>> All right. Let's dive into uh eBay because out of nowhere, literally folks, nowhere, GameStop, which is you know, that big compared to eBay, uh just jumped uh because GameStop
decided to submit a non-binding proposal to buy 100% of the company at 125 a share. Well, as you might imagine, 55 billion dollars, they they claim they can get it together, Pete. I don't know if they can for sure, but people had to believe it at least on the surface
because they chased this thing up and we had unusual option activity of course in here. Whenever we have that, we love it.
I know that the customers love it, Pete, because look at that one from the first, which was last Friday or the day um before, the 30th.
You saw eBay, they were coming in buying the 106 calls, and that's with the stock at 104. And then, with the stock at 103, they came in for the 106 calls again, you know. Those are the two big trades, and both of them worked out pretty well as eBay to the upside today.
>> Yeah, not so bad, John. An unbelievable move for for all of this, and they're doing this in cash and stock, and they've got a price, like you said, 55 and a half billion dollars. They're going to have to do a lot of leveraging to kind of get that money, John. I mean, the the whole company itself, when you look at the GME, is 12 billion. So, you know, you got to scratch your head a little bit,
but it doesn't mean it can't happen.
We've had it in the past. There are many results that we've seen where we're seeing people companies, rather, that are able to get those numbers that are quite a bit bigger than they they are themselves, and that's something that I it looks like they could potentially do that.
They've been building this position that they started, John, back in February, all the way up until now, and they've made this move. So, it it I don't I'm not saying it's going to absolutely happen, but I'm going to say that they're positioned so it can definitely happen if they want. And it will be very interesting to see how this thing, you
know, sort of mixes itself up. And right now, we're looking at eBay up 5%, you're looking at GameStop down 5%, but it's going to be very very interesting couple of months, I think, with this one.
>> Well, and a lot of financing needed.
That will see. This will really put GameStop to the test there. All right.
Let's take a look at FedEx B, because all these shippers, FedEx, UPS, CHRW, you know, anybody who moves things either in the air or on the ground is kind of hit today, because Amazon
announced Amazon Supply Chain Services.
So, we all know about AWS, Amazon Web Services. This is Supply Chain Services, which bundles logistics, as well as freight and fulfillment. This is a pretty big deal, and it flies right in the face of all the people that usually
make money off of a company like what, for instance, Amazon does, delivering packages.
>> Yeah, it's amazing, John, and you said exactly the right thing. And when you talk about AWS, by the way, they have 28% growth. They're growing very rapidly and strong, and they've gotten, it seems like, bigger and bigger and bigger. And it's a huge piece, and they are the biggest out there. So, is this something that is plausible?
Absolutely. And I I wouldn't be shocked to see some of these companies take a little bit bigger hit in the not-too-distant future, John, because the supply chain services, like you're talking about, I mean, we're talking about a network with freight and parcel deliveries and fulfillments and all the rest of this.
There's a lot to this, and I think Amazon, given what they've already been able to create, this isn't so far-fetched, and this is going to be something I could I could see a lot of growth coming out of this over the next 5 years or the decade or whatever, as we travel across the things with Amazon.
>> Yeah. I I think people what we're likely to see is that it'll take a chunk out of each of these companies, whether it's XPO Logistics, a company where our former chief technology officer went over there to run them. He really helped them ramp to the upside. And
I I think, you know, if you if you strip off 10% or even 15 or 20% off of each of these, UPS, FedEx, CHRW, XPO, all of those types, it's going to leave a mark.
It's not going to put them out of business, but But might cause a little more consolidation in that space in order for them to compete. All right, we've got one more stock to check out today, Pete. Um, American Express Global Business Travel.
So, they're going to be taken private by a company called Long Lake Management.
All cash, 6.13 billion or 6.3 billion, I guess, Pete.
Um, that's going to be a big deal. Uh, basically, you're going to get 950 per cash, uh, which is a 65% premium over where GBTC was trading pre- Pete. That's a pretty big deal for a Monday, right?
>> Yeah, hitting 52-week highs, just underneath 9 and 1/2, and it's up 57%.
You can see it there trading what, five 933? It hit 939 was the high.
But John, how about this? 54 million shares trading today. It's average is 1.5 million shares in a day. So, it gives you a little idea about how big this is. Three 6.3 billion-dollar all-cash deal from Long Lake Management.
Pretty interesting, and it seems like something that's going to just fly right through, the way it's looking. You know what? I think there's there's nobody fighting against this thing, and this could be very, very interesting into the future as well. But this is this this is an amazing morning, and and now into the afternoon as we're watching how fast this is has been moving to the
upside. And no pullback. I mean, the stock basically jumped up to a level, and it stayed there for the rest of the day, so far at least. So, pretty darn interesting. It it tells me that people think this is going to happen, and it's going to happen pretty quickly.
I think you're right. And keep in mind, folks, that, you might be looking at the 10-year or whatever metric you use, and you might say, "Gosh, are they going to finance at this rate?" Well, maybe they're betting that by the time they actually would have to pay, Pete, which would be 3 to 6 months down the road,
that the rates will be lower, and I would be betting right with them on that bet. So, we'll see. All right, I know you guys love these uh little videos that we put up as well. So, we're going to show you a little something here um about Mr. Irrelevant, and uh it's not about Purdy, but check this out.
>> I love the Mr. Irrelevant pick every year, but especially this year cuz this guy has a really cool story. If you don't know what the Mr. Irrelevant pick is, it's the person who is picked last in the NFL draft every year. A notable Mr. Irrelevant is Brock Purdy, the quarterback for the San Francisco 49ers.
And this year's Mr. Irrelevant is Red Murdoch, linebacker from Buffalo, picked with the 257th overall pick by the Denver Broncos. Now, Red Murdoch's used to not be in the center of attention, as he was one of six siblings growing up. And his early achievements were not on the football field, but in the classroom, as he took the SOL, a standardized test in
Virginia, and he got a perfect score on it in eighth grade. Then he goes to high school in Virginia, where he becomes a state champion alongside his teammate Trevion Henderson. Oh yeah, and before he even graduates high school, he gets his AA degree. Uh this guy is super smart. But after he graduated high school, he did not have any Division I offers for football. So, he enrolls in
the Fork Union Military Academy to try and pursue his goal of becoming a D1 athlete. While there, he leads the team to an 8 and 0 undefeated season, and he picks up an offer from Buffalo, and that's where he enrolls. And after redshirting his freshman year, he comes in and dominates right away. He has 60 tackles, 9 and 1/2 tackles for loss, and
four forced fumbles. Then in his redshirt sophomore year, he has historic numbers. 160 tackles, 16 and 1/2 tackles for loss, and he sets an NCAA record forcing seven fumbles in a single season. So, you would think he would enter the transfer portal after such a dominant year at a
low-level school. No, he comes back for his junior redshirt season, and he puts up pretty much the same stats. 142 tackles, 13 and 1/2 tackles for loss, and he has six forced fumbles. Let's look back at those forced fumbles numbers. So, as a redshirt freshman, he forces four fumbles. As a redshirt sophomore, he has seven. And then he
ends his career with six. That's 17 forced fumbles, an NCAA record. He accomplished this record in basically three seasons of playing. Just unbelievable. Now, you may be wondering, who had the record before him?
Khalil Mack. You know Khalil Mack, the top four pick in the NFL draft, an all-time legend of the game. Guess where he went to school?
Buffalo.
And when By the way, what's Red's real name? Cuz his name's not Red. It's Khalil. But if you can't already tell by the smile on this guy's face, he's just an awesome guy, and I cannot wait to root for him in the NFL. Super proud of this year's Mr. Irrelevant. I love >> Yeah, I mean, how could you not be rooting for that kid, Pete? Gets his
associate arts degree. That's the degree I got in junior college as well. But I went to school there for 2 years. This kid got it in high school. I mean, that's pretty amazing, right?
>> Yeah. I'll tell you what, you're right.
That's a guy you want to pull for because he's done everything. I mean, he's done everything you'd ever want. I mean, I'm sure his family's unbelievably proud of all the different accomplishments already. And especially on the football field, I mean, the the kid seems to have all the numbers that you'd want, John. I don't know how big, how fast he is, and all the rest of it,
but that guy knows how to find the football, which I'd rather see a guy on on tape who can do what he does rather than some guy who can jump 42 inches, but doesn't know where the ball is. So, I mean, you know, this is this is actually a kid who actually plays damn good football as well, and smart. All right, John. Here's where we're going to
go, the Big 10. NCAA distribution of money.
Do you know how much the Big 10 got this year in their distribution from the NCAA? 1.37 billion dollars in revenue for the 2024-25 season, John. I mean, and it started because of that got to that number, they've got 18 members that jumped by 500 million once they added the the last
two, which was Oregon and Washington, but it's up 55% in the last year as far as the money that's going there. I mean, just to give you a little comparison, the SEC announced they got 1 billion. Well, the Big Ten got 1.37 billion. I mean, these numbers are ridiculous, but I'll tell
you what, these schools are all needing the the numbers, John, because they're they're using this very quickly to spend and do all all the things that they want to to get the program and get the players and everything else.
Um it's just amazing the kind of money there, and I figured because of the two of us being money guys and former football guys, linebackers, um I just wanted to run this one by you.
They were the first 12-team football playoff that also added this huge amount of money. I mean, it's it's unbelievable what's going on in college sports, John, and the the dollars that are adding up, but in some ways it's shouldn't be all that surprising, right? I mean, college football is starting to pass the
NFL to some degree. To some degree, it's just unbelievable what they're able to accomplish, but what do you think about this money that these guys are bringing [laughter] in? It's unreal.
>> Well, I'd say, Pete, the the fact I just looked up the numbers when you said you wanted to cover this, and the Big Ten Network right now they say it's worth around 7 or 8 billion dollars.
>> [laughter] >> That's the Big Ten Network. So, as you the viewers know, um many teams sign on with uh broadcasters.
Famously, uh I think Notre Dame might have been the first, Pete, that basically got NBC because some guy at NBC went to Notre [laughter] Dame, and he signed them up, and it was a great deal. In fact, a great deal probably for NBC because they don't care if it's split up between a whole league or just one team as long as
that team draws the numbers. And indeed, that's what they've done. Drawn big numbers and that's why, you know, out of nowhere, Big Ten Network. I mean, I remember when my nanny worked there, people. You know, the nanny for our kids, Brittany, she worked there at the
Big Ten Network. And now, $8 billion maybe or what they're worth.
>> That'd be be amazing. That is amazing.
All right, how about a little Major League Baseball, John? Now, who's at the very front of everything in Major League Baseball right now? Well, is it the Mets? No. Is it the Yankees? No. Is it the Dodgers? No. It's a little little town, well, it's not that little actually, but it's Atlanta. And Atlanta's absolutely dominating right now in in Major League Baseball, John.
And here's here's just a few of the different numbers that I've got for you.
They lead the American uh well, excuse me, the MLB in runs scored. They're top three in runs against.
Uh they're top um at playing away games, they're 13 and four. Nobody's very close to them on that one, either, John. And then this guy, Matt Olson, who I'm sure there's a lot of bit bit baseball guys who really understand and love this guy and everything, but I don't think he's the household name that uh like Shohei
Ohtani or something like that. But he's got 11 home runs, he's in the top five.
He's batting number one with 31 um runs batted in, John. He's also got um a few other numbers that are just off the chains. And then they've got a pitcher, Chris Sale, who's been there for a while. He's an amazing guy. He's had an a great year. He's got six wins already.
So, Atlanta seems to have everything going the right way right now. What do you think about these guys? I mean, and poor Ohtani, he's gone four games without a hit. So, he's getting probably pretty frustrated. He's 0 for 14 in his last 12 games. Not so much >> Yeah, these guys
Atlanta has not lost a series to anyone.
I mean, I know that they start playing basically in early April, but I mean, you know, here we are in and in some cases late March, but here we are and they haven't lost a series. Their their percentage win is like Babe Ruth's number 714
as far as the number of home runs Babe Ruth put up or whatever. I mean they are next level for sure. And like you say, it's combination of pitching and power because of that home run hitter that you mentioned Olson. I mean, you know, yeah, the Yankees have two big home run hitters, but it's a question of
who's on base in front of them and did they drive in runs and obviously I think the world of judge Pete.
But man, this Atlanta team, if they stay even close to this hot into the All-Star game, which is still May, June, July three months out.
Yeah, it's a ways out.
>> [laughter] >> Yeah, well, that's it for the sports, man. I I just thought that was really cool and I love to see somebody out there Atlanta being in this year where they're just really having an unbelievable year and Otani, he'll bounce back sooner or later, but he's got to be pretty frustrated right now, John.
>> Yeah, he's not getting much to hit, Pete, is part of it and that's been true forever. I know it's not brand new, but they try to give this guy the crap pitches all day long and every once in a while hit him to brush him back off the plate, but when he gets back into his groove, he will still put up some
astounding numbers. Well, thanks for joining us today, folks. I'll be at Crypto Monday as I say here in Miami today and then flying up tomorrow, Pete, to be on with I think Charles Payne on the Yeah, Charles Payne making money.
Um >> tomorrow and with Grant Cardone at the uh Market Movers uh conference that's going on over by the New York Stock Exchange tomorrow. So, busy day again tomorrow. I hope I hope all of you guys have a great day and Pete and I'll be back tomorrow. What time, Pete?
>> We're going to be doing it at 1:00 p.m.
Eastern time, John. Giddy up, baby.
>> Bang.
>> [laughter]

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