GME is an interesting watch due to Ryan Cohen's shift toward profitability and collectibles, creating a hybrid retail/investment model that defies traditional analysis.

Let's talk a little about "Game Stop". GameStop has somewhat confused me with the way the earnings were released. The stock does not move as much as it used to in the past. It has dropped by about 90 basis points.

And now, Lisa, their net sales have already dropped by approximately 19% to 20%. So, there are still ongoing conflicts, but I noticed a 57% increase in holdings. So, there are some bright spots here as well.

This is a very interesting company. I'm very used to covering technology news, but we've seen a record quarter of "GameStop".

In fact, it's the highest figure they've achieved for the second quarter since 2002. We saw operating income for the period that is the highest since 2002, and net income also increased.

You mentioned a decline in video game sales, and this is evident in used and refurbished devices, but it is offset, as you mentioned, by a 57% year-on-year growth in collectibles.

What we also see, which I think makes GameStop interesting to me, is that investment gains do a lot of the heavy lifting here.

In fact, there are gains of approximately $238 million from eBay's investment. And I think the bigger question is, what exactly does "Game Stop" become? They look more and more like two different companies.

Yes, and I think one of the greatest financial moments of the past year was this whole saga between GameStop and eBay. All the news outlets were covering it for a week, then it kind of faded away.

So Lisa, not only have they invested in it, but does it still matter, I think?

You mentioned in May that GameStop's unsolicited offer was around $56 billion to eBay, and eBay immediately said "no". But at first glance, I don't know about you, but I thought about it: this is strange.

It seemed strange, as if a much smaller video game retailer was trying to take over this huge online market.

However, the strategic logic gradually began to become clear, and there are common threads connecting them. If you think about it, GameStop stores and physical infrastructure, and the digital marketplace eBay, the common link between them is collectibles.

Although eBay rejected the offer, Ryan Cohen said: "I will not back down." Keep investing, and in fact, I think four months ago in May, GameStop had a 5% stake in eBay and now it's 10%, it's doubled.

As for what he does with GameStop, it has been around for a very long time and went public a while ago, but it did not follow the path of a "blockbuster". And now, I think thanks to Ryan's leadership, it looks as I indicated, two different works under one arrow.

We see a more agile retailer; they are closing stores and exiting markets such as France.

But at the same time and in parallel, thanks to Ryan Cohen, we see this multi-billion dollar investment arm. He is the decision-maker, so he really tends to manage two jobs, and the decisions he makes prove to be really worthwhile.

"Game Stop" has always been a difficult case. There are many variables here. You have the "M" stock issues, the leadership team, and the business that seems to be dying, but then there are the shifts and investments.

When you look at this from the perspective of a pure analyst and investor, where do you begin? It is simply completely different from any other stock we look at.

That's absolutely true, and frankly I think that's what interests me, because despite closing the stores, they've become more strategically agile. He is really aiming for profitability rather than expansion.

I think the stores are still important, because while Cohen is making it more agile, he is shifting, as we said, towards collectibles, but GameStop now has billions of dollars of capital that Ryan Cohen can employ in other investments, acquisitions, and share buybacks, and he is actively managing that capital structure as well.

Therefore, it is an interesting time to watch this stock. As I mentioned, they didn't follow the "blockbuster" path, and I think eBay's story may be about to enter a new chapter.