Thursday, August 16, 2007

eBay Shares Take A Hit!

The Market recovered some today, though it still finished in red territory but eBay ended up losing over 2.5%; closing at $33.64 -- down nearly $4 from the 52 week high it set just last week. It looks like the Skype blackout is the main culprit for drop in share price. This reminds me of the eBay Blackout in 2002 and the huge PayPal outage in 2004. It's the eBay outage Trifecta. Now they will have to revise their slogan the Power of Three!

Good thing Meg and Rajiv Duta sold their shares last week; the timing saved Meg $1.6 million and Rajiv $388 thousand.

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