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Thursday, January 20, 2005

eBay Loses $13,072,585,200 Today

The stock market is a fickle creature. eBay announces today that they are wildly profitable (they made $205.4M profit in the last quarter), with income up 44%. So what do investors do? Everyone freaks out and sells eBay stock. Which makes the stock loose $19.72 of value per share. That means they lost over $13B worth of market cap today. That's crazy if you ask me.

5 comments:

Vicious Summer said...

Probably has to do with eBay greedily raising selling fees. They are going to lose sellers and I think they shot themselves in the foot with that one...

Shawn said...

They raise prices every year around this time though. People get up in arms about it for about a month... then everyone forgets and still uses eBay. :)

BobaFind said...

So would now be a good time to buy eBay stock?

Shawn said...

Beats me... but buy low, sell high is always good. If you think it will go up, then buy. {shrug}

Me said...

Don't you think that the Market Cap was pretty high to begin with? It might be a good buy if you don't mind waiting until Summer time to make your money back.