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Preserve Your Budget by Freezing Foods -- Savings ExperimentThe day's trading results are in and it was a brutal session for eBay. The stock is down to $36.77, a 9% one-day drop the day after the company reported middling results. Volume was massive -- 47 million shares traded when eBay's 30 day average volume is 11 million. That's 330% more than usual.
Here's the rub: As far as I can tell, only one investment bank downgraded the stock today. That was RBC Capital Markets -- and only to a neutral rating. Plenty of other analysts kept their buy ratings on the shares.
So why the rush to the exits?
Could it be that some Wall Street analysts are quietly ushering their best clients to the exits while keeping their buy rating intact so as to stay in eBay's good graces? After all, the company has been doing quite a lot of deals lately.
I have no proof, but stranger things happen on Wall Street. Just ask Eliot Spitzer.
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