Thursday, November 13, 2008
Wall Street is Beating Up Ecommerce!
Wow, watching the stock market right now is painful. The beating that eBay and Amazon, among others, are taking right now is bordering on insane.
At the time of this post, there was a slight uptick in the market and Amazon moved back above the $40 per share level and eBay moved above the $12 per share level. How can anybody know when these stocks have hit their bottom.
Both of these stocks look to be very good buys right now; if this was a regular market. I honestly never saw eBay going below $12; at least until after the Q4 earning call. Perhaps the market is just pricing in the downturn for all of 2009 right now and this will soon turnaround.
I have more faith in Amazon long-term than I do eBay, so I would be more inclined to buy Amazon at $40 than I would eBay at $12 but I'm willing to wait until this market at least makes the appearance that it is turning around.
Just my 15%