eBay (EBAY) NewsBite - EBAY Lower on Sell Rating
Posted: Wednesday, January 14, 2009 9:58 AM EDT
By: Market Intelligence Center Staff
eBay (NasdaqNM: EBAY) opened at $13.66. So far today, the stock has hit a low of $13.44 and a high of $13.73. EBAY is now trading at $13.45, down $0.60 (-4.27%). Over the last 52 weeks the stock has ranged from a low of $10.91 to a high of $33.47. Shares of EBAY are declining this morning after a Collins Stewart analyst initiated coverage on the stock with a "Sell" rating and a $10 price target. The analyst said EBAY could lose market share to Amazon.com (AMZN) in 2009, and that EBAY could see increasing weakness in online advertising in 2009. Technical indicators for the stock are bullish and S&P gives EBAY a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on EBAY the stock seems like it could be a candidate for a covered call [ABR-Seven Summits Strategic Investments NewsBite]
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