After falling 4.9% in yesterday's trading session to test a new 52 week low at 28.20, eBay Inc. shares have rebounded this morning up 0.8% to lift the stock back up to 28.47 gaining 0.22. The stock underwent strong selling pressure yesterday as investors reacted to news that Google could begin testing of its online payment system, GBuy, as early as today. How this will ultimately play out for eBay remains to be seen, but for a stock that has already been struggling recently the new competition could put the stock to the ultimate test.
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Reader Comments (Page 1 of 1)
6-28-2006 @ 1:57PM
dale adamson said...
Meg better get busy with some innovation. The competition is heating up. Many of the ebay/paypal users will switch if the price is lower as many resent feeling they have been gouged to date with little or no support when ripped off through ebay/paypal. If Gppgle launches an auction site next, ebay is toast as they have done nothing but raise fees! Watch out Meg! I am sure it won't bother her if she is relieved of her duities has probably made tens of millions on the Stock Options! Another reason investors have headed for the exits and stayed there, the option transaction costs!
6-28-2006 @ 4:57PM
Rick said...
I've been ripped off so often by Ebay & Paypal, I welcome a change of competition/changing of the guard. So often they have a free listing day AND notify me at 11:58 p.m.
6-28-2006 @ 5:19PM
Kevin Leo said...
Google has failed to capture any meaningful share of competitor's businesses beyond their initial success in search advertising. Gmail, finance, picasa, spreadsheet, froogle, etc. do not have an iota hold of any of their respective market's runrate business. GOOG is throwing spaghetti on the wall and trying to find some that will stick. Meg & eBay do nothing but innovate because they have to. THen they get punished for it via stock price decreases for investing in the future. C'est la vie en Wall Street. But Ebay will prevail with SKYPE much like after the catterwailing over their pruchase of PayPal. So enough with the GOOG scare tactics.