The Scoop: GameStop CEO wants to buy eBay. He just couldn’t explain how on CNBC.

Ryan Cohen, CEO of GameStop, left viewers and analysts confused after a tense CNBC interview about the company’s $56 billion bid to acquire eBay.

During the 16-minute segment on “Squawk Box,” Cohen struggled to explain how the deal would be financed, repeatedly deflecting questions about a roughly $16 billion funding gap.

When pressed, he told anchors variations of “it’s on our website” and repeated the deal would be “half cash, half stock,” without offering more details about how that would work.

At one point, when another reporter stepped in and asked directly where the remaining money would come from, Cohen responded, “I don’t understand your question,” before suggesting the company could issue new stock.

He was also increasingly tense and defensive before he said the deal is “an opportunity to build a much larger business.”

But he never clearly connected his vision to a workable financial plan audiences could understand. The whole thing was uncomfortable to watch.

Anchors appeared visibly confused, and GameStop’s stock dropped in real time as investors questioned whether the company could realistically fund the acquisition.

The interview went viral. “Half cash, half stock” became a sound bite and memes online.

Cohen recouped for a second interview with Fox Business the following day. This time, he appeared calmer, he smiled, he greeted interviewer Charles Payne with a “good to see you, by the way, Charles.”

Cohen then addressed the main concern: “People don’t understand how it’s possible to do a transaction like this, so in easy terms…” and then went on to explain the numbers more clearly. He reiterated a number of times he was trying to use simple language to describe a much more complex deal.

It was quick redemption for an awkward blunder.

Why it matters: Cohen lost control the moment he failed to clearly explain the financing. This misstep dominated the interview and became the sole focus of the story.

His repeated deflections also made the situation worse. Telling interviewers to look somewhere else for answers reads as avoidant. His body language looked defensive and uncomfortable, too. The lack of clarity coupled with reluctance to engage undermines his credibility as a leader, which is about the worst thing that can happen during a live interview.

Tone, body language and clarity are extremely important for leaders to be seen as decisive, prepared and credible. If you don’t have all the details yet, or there are things you can’t yet say, make that known. Audiences can accept that, even if they’re skeptical.

If there are talking points and questions that aren’t anticipated, comms teams should help their spokesperson know what those might be and how to address them or pivot naturally.

Cohen’s follow-up appearance on a less confrontational show demonstrates how much the environment matters as well. The setting can help or hurt depending on the goal and Cohen showed a much more prepared, softer side in this do-over, which may help earn some forgiveness and trust.

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Courtney Blackann is a communications reporter. Connect with her on LinkedIn or email her at [email protected].