eBay (Nasdaq: EBAY) NewsBite - General Motors Ends Deal With eBay

Posted: Thursday, October 01, 2009 1:36 PM EDT

eBay (NasdaqNM: EBAY) opened at $23.55. So far today, the stock has hit a low of $22.88 and a high of $23.55. EBAY is now trading at $22.97, down $.63 (-2.67%). The stock hit its 52-Week high of $24.74 in September and set its 52-Week low of $9.91 in March. General Motors announced that it was ending its deal with eBay to sell cars on the company's website. According to reports the company only had 13 sales in the past 2 weeks out of around 21,000 listings. Technical indicators for the stock are neutral and S&P gives EBAY a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on EBAY the stock seems like it could be a candidate for a November in-the-money call debit spread below the 19 range. [ABR-Seven Summits Strategic Investments NewsBite]

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