eBay Stock Up Is The Shift From Stores Working?
Why? Why have eBay Inc. (NASDAQ: EBAY) shares gained 6.10% today? That is, of course, the question.
We’ve discussed the rumors already, anything from eBay selling its China operations to creating a strategic alliance with a local player, to Microsoft buying eBay.
Most of these rumors aren’t even that new and have surfaced from time to time in the past. But there is a market reaction. All of last week, and the past few days as well. No one can deny that. So there has to be something brewing, right?
Well, just like with the last 5.5% gain day last week, where a Goldman analyst released a bullish note, today it was Morgan Stanley analyst Mary Meeker’s turn. Meeker pointed out that eBay’s effort, especially in the form of higher Store fees, in shifting the mix from Store listing back to its core auction format is working. Not only that, but average sale price and conversion rates
both rose since August 22 (the day the fee hikes went into effect), she
said.
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