eBay Buyers Have Buyback on the Brain
eBay Buyers Have Buyback on the Brain
By Vishesh Kumar
TheStreet.com Senior Writer
8/9/2007 6:21 AM EDT
"Is eBay (EBAY - Cramer's Take - Stockpickr) about to speed up its stock-buyback program?
That's what recent gains in shares of the auction giant might be indicating. The stock has climbed more than 12% over the last five trading sessions, closing Wednesday at $36.71. The Nasdaq, meanwhile, has inched up only 2% over the same period.
This latest run-up comes even as eBay competitors grow bolder, and during what observers say is usually a weak time of the year for the company. This week, Amazon.com (AMZN - Cramer's Take - Stockpickr) announced that it would launch its own payment service, which will be a rival to eBay's PayPal.
Meanwhile, online retailer Buy.com recently introduced Garage Sale, an application that lets users buy and sell goods over popular platforms like social networking site Facebook."
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