Tuesday, August 07, 2007

eBay Shares Set New 52 Week High

eBay shares followed a greater than 3% gain yesterday with another gain of greater than 3% today to close at $35.86 a new 52 week high.

I normally don't comment on stocks but this was a notable improvement. I'm sure employees and investors with long positions are exceedingly happy today.


Anonymous said...

What's odd is that there aren't really any headlines pushing the increase, which is usually what drives the biggest change.

The headlines are about Amazon's payment system (which I think if anything could scare the eBay stock a little) and a few busts on scammers/counterfeiters. I guess the latter could be pushing it a little, but a few people getting busted isn't going to boost buyer confidence to the point of increasing the stock value by 3%.

Is there something I'm missing?

Randy Smythe said...

Well an Analyst suggested there might be a $3 dividend coming. That would certainly help the stock. I don't think they are going that route.

eBay increased their credit line to $2B with the option to take it to $3B so many people believe there is a big acquisition in the near future.

I don't know of anything else.