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.

2 comments:

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.