eBay Stock on the Rise
Indeed, what happened today? Another day of significant gains as
eBay Inc. (NASDAQ: EBAY) shares were up by 4.76% or $1.29 to close at
$28.41. If you go look at the intra-day chart, you’d notice that the rally started around noon.So what did we have? Actually, around that time we had the press-release
regarding eBay’s PayPal settling a potential class-action case and also
agreeing with attorney generals about its user agreement and protection
programs (protecting users against fraud in very general terms). The
agreement was voluntary and eBay has actually already implemented some
of the things agreed upon. It will cost PayPal $1.7 million.The class-action suit settlement , again regarding information
communicated to users about PayPal’s protection program, will cost
PayPal $3.5 million. According to the settlement, PayPal is also not
admitting any liability for any of the allegations in the two cases.As far as I see it, eBay and PayPal came out light on these matters.
PayPal will clean up its act and those concerns will be behind it.
There’s nothing worse to a stock than uncertainties surrounding the
company.
GE – eBay after the bell 9-28-06: So what happened today? – Blogging Stocks
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