Hi guys, Whats your take on eBay, I have had this for about a year, bought at the latest down when it was at 28, I didn't sell for about 1 year, and just thinking what I can do with this stock. I roughly have about 70 shares, and just thinking of maybe putting this in mutual funds or in CitiBank
Hold it. They're sitting at 30.01 right now. Their 52-week low is 28.87. If you sell, you won't be making much.
Dead money? For the moment. At last nights close, it was in a seven day narrow range rectangle. Today's 40 cents or so will make it eight. Given the sharp descent (and thus lack of a base), probabilites would suggest resolution of the rectangle to the downside. Furthermore, $30 is a nice round number. Ax has been holding it above there (hence the rectangle) to avoid filling a probable concentration of stop loss orders.
Ebay has no future. That is my take. In ten years, how many people will be making a living via selling crap on Ebay? I can't see this number increasing from where it is today. Unless Ebay is able to leverage its name recognition and move far,far beyond an "online-flee market", what future does it have?
I think ebay will build itself into a holding company that owns properties like ebay, skype, paypal, etc... I see a big promises in paypal. I don't know why they're solely focusing on online payments when they can transform paypal into a true online bank.