This is more of a technical play. No near term catalyst insight, but seems due for an oversold bounce. inets still weak, but due to bounce if comp runs more. Either way.. Good for a trade here for swing players. EBAY $ 23.50 eBay Inc. -0.15 Shares Short 50,040,163 Days to Cover (Short Ratio) 2.9 Short % of Float 4.59 % Shares Short - Prior 46,420,328 Short % Increase / Decrease 7.80 % % from 52-Wk HIGH ( 47.86 ) -103.66 % % from 52-Wk LOW ( 23.41 ) 0.38 % % from 200-Day MA ( 34.47 ) -46.68 % % from 50-Day MA ( 27.48 ) -16.94 % Price % Change (52-Wk) -45.77 % Trading Volume - Today 7,125,522 Trading Volume - Average 17,138,880 Trading Volume Vs. Avg. 41.58 % Total Shares - Float 1,090,000,000 Total Shares - Outstanding 1,415,394,158 % Held by Insiders 16.53 % % Held by Institutions 66.30 % Market Cap 33,261,762,713 EPS 0.72 PE Ratio 32.80
Look at it's fundamentals and the technicals, and you can see why it's up 5% today. Here's an article from my blog: http://trading-notebook.blogspot.com Sarah Gilbert over at 'bloggingstocks.com' writes that: "The stock has taken a beating thanks to management exiting under questionable circumstances, potential competitive threat from Google, worries that Skype may be a money-losing (or at least, no-money-making) proposition". So EBAY's value has fallen by half purely based on concern and worry. Why aren't people jumping to buy at any of this news: Revenue from eBay's marketplaces rose 22%, while the company's gross merchandise volume rose 18%. Sales for the operator of the world's biggest online marketplace rose 30% to $1.41 billion, also in line with expectations, as revenue from eBay's PayPal payment business rose 39% to $339 million. In the second quarter earnings call on July 19, EBAY reported a growth rate of 30% over the prior year quarter. The 2Q EPS was right on the estimate at 0.20. In the mean time, on July 26 - Analyst Robert S Peck of Bear Stearns upgrades eBay Inc (EBAY.NAS) to "outperform." The target price is set to $33. And by July 31 - Analyst Mark J Rowen of Prudential Financial gives a target price of $40. Take a look at the current financials and you will notice that EBAY is also not taking on debt to finance this fantastic growth.
i actually covered my long term ebay short position on 7/27 @ 23.70, also thinking that we might see a bounce/consolidation period at these levels.