Mike Fox

Husband. Girl dad x2. Sub70 brand ambassador. Sports. Golf. Markets. Not financial advice

[Mike Fox @Fox6IU]

$GME and $EBAY’s board agree — the company is worth more than $125.

Cohen proved it by acquiring 9.3% exposure including ~2.4M shares while eBay management sold ~2.4M since 2020.

Shareholders want value creation above $125 and aligned incentives.

The outsider delivers both. The current management delivers neither.

$GME $EBAY

[Mike Fox @Fox6IU]

@cvpayne — $GME just authorized a $2B buyback — up to 22% of the public float at current prices.

59M warrants outstanding at $32 generate $1.9B when exercised — offsetting the entire buyback spend.

Every share bought below $32 is accretive.

The full $2B can be deployed before Q2 10-Q disclosure.

Is this the most elegant self-financing buyback on Wall Street right now?
$GME

[Mike Fox @Fox6IU]

@MarketWatch & @Reuters:

$GME economic exposure in $EBAY is 7.78%, not the 6.6% you reported today.

Over half a billion dollars difference on a $56B story — public for 4 days.

13Ds are dropping faster than the coverage can keep up.

Half Cash. Half Stock

$GME $EBAY @ryancohen

https://t.co/p8id5qZaQ9

[Mike Fox @Fox6IU]

@eBay invented Buy It Now so buyers could skip the auction.

@ryancohen ’s $125 bid was rejected — so he did exactly that. 7.78% 🔒at a discount

• $GME record Q1 net income & operating income, sales up 14%. $9.7B war chest. $2B buyback approved

• $EBAY buyers & sellers fleeing, officers cashing out below $90, now spending shareholder money on Innisfree to re-elect the board that rejected $125

How long will the auction site prefer Buy It Now over their highest bid.

Time=Money. $GME $EBAY

[Mike Fox @Fox6IU]

Is spending $1.2B — 14x revenue — on Depop really ‘disciplined capital allocation’ — or buying users to replace the ones they couldn’t satisfy?

The app is still losing money and needed a cash injection from Etsy just to keep the lights on. Etsy paid $1.625B and is about to take a $425M bath. If the deal falls apart $EBAY owes Etsy $160M for nothing.

Can’t wait to hear this ROI spin from Paris. $EBAY @ryancohen $GME

[Mike Fox @Fox6IU]

So @eBay is an auction site losing buyers & sellers, run by a board that turned down a $125 bid — a 46% premium — as ‘neither credible nor attractive’ while its officers sold below $90.

$EBAY sits at $110 — after $GME 🔒 7.78% economic exposure at a discount.

The only thing not credible or attractive are those feeding off eBay’s perverse incentives.

Can’t wait for @ryancohen to shatter EPS with the value $EBAY couldn’t deliver to its shareholders.

$EBAY $GME

[Mike Fox @Fox6IU]

@ryancohen built @Chewy on customer obsession. Collectibles up next
@gamestop @PSAcard @powerpacks @eBay

$EBAY
buyers & sellers 📉
Board rejected $125
Officers sold <$90
$GME 🔒 7.78% & 📈

$GME adding shareholder value under $125

Their floor. His discount

Ready for earnings

[Mike Fox @Fox6IU]

@ryancohen built @Chewy on customer obsession. Collectibles up next
@gamestop @PSAcard @powerpacks @eBay

$EBAY
buyers & sellers 📉
Board rejected $125
Officers sold <$90
$GME 🔒 7.78% & 📈

$GME adding shareholder value under $125

Their floor. His discount

Ready for earnings

[Mike Fox @Fox6IU]

@sneedweb A $125 bid from @ryancohen was unattractive to the @eBay board while officers were selling below $90

Fitting #eBay won’t match a willing buyer w/ eager sellers, so RC is using “Buy It Now” to add 2.78%, saving ~$150M

Every day they say no, $eBay shareholders gift value to $GME

[Mike Fox @Fox6IU]

@BarstoolBigCat Confirmed

[Mike Fox @Fox6IU]

Your @IUHoosiers are Big10 champs and #1 in the country!! @KaticMichael @barstoolsports @BarstoolBigCat

[Mike Fox @Fox6IU]

Your @IUHoosiers are Big10 champs and #1 in the country!! @KaticMichael @barstoolsports @BarstoolBigCat

[Illinois PGA @illinoispga]

Can’t Defeat ‘The Law’!

Congratulations to our 2025 Illinois PGA Senior Match Play Champion - David Paeglow, PGA! This is David’s first IPGA Senior Match Play title.

‘The Law’ got it done with a 5&3 victory over Travis Hall in this morning’s Championship Match!

[CBS Sports College Football 🏈 @CBSSportsCFB]

"Indiana's front seven is WAY better than both Alabama's and Georgia's right now."

🗣️ @AaronTaylorCFB loves what @IndianaFootball is doing up front on defense

[Mike Fox @Fox6IU]

Awesome day @BroomsedgeGolf. Thanks @JakeKrieg for the hookup. @Sub70

[Sub 70 Golf @Sub70]

What if...

#Sub70

[Mike Fox @Fox6IU]

@PaigeSpiranac @drinkgaragebeer Hey Paige can you tag @drinkgaragebeer @BraxtonBrewCo @JacobRouse. Then come down to SC and let’s play a round

[Mike Fox @Fox6IU]

Way to go ole pro!

[Illinois PGA @illinoispga]

Laying Down the “Law”

David Paeglow, PGA topped the field of US Senior Open Qualifiers today at Flossmoor GC to punch his ticket to the 2024 US Senior Open! The Illinois PGA would like to congratulate David in this big accomplishment!

[Mike Fox @Fox6IU]

@USGA It’s a shame this isn’t televised or on a live stream @USGA

[Mike Fox @Fox6IU]

Awesome read. Play well Zack!

https://t.co/GRz3ItJVds
@Sub70 @MyGolfSpy

[Mike Fox @Fox6IU]

4 day Kiawah National Pro Am. -5 the first day at ocean course. @golfsub70 @Sub70