eBay Stock Still Declining
As the markets have declined, eBay Inc. (NASDAQ: EBAY) has not only been going with the flow, it has been one click ahead of it. Since that fateful Tuesday in late February, the Nasdaq has lost 6.2% of its value, while eBay shares are down 8.5%, more than Amazon.com, Inc. (NASDAQ:AMZN), Google Inc. (NASDAQ:GOOG) or Yahoo! Inc. (NASDAQ:YHOO).
Why could that be, you may ask. In my view it’s simple. In dangerous economic times, investors tend to lean toward stocks that offer more security and away from stocks with uncertain futures. What an outstanding concept that is. So to see eBay shares pounded relentlessly back towards their recently undeserved $30 cresting point comes as no surprise to me. As a matter of fact, I would be a bit surprised if it didn’t get back down near its recent $28 low point, or perhaps even below that. Shorting eBay might be a concept I’d consider.
No comments yet.
Leave a Reply