Advertisement
YOU ARE HERE: LAT HomeCollectionsFixme

Market Savvy | Savvy Confidential / A Briefing for
Investors

Bidding for EBay Turns Hot Again

March 14, 2000|Reuters, Times Staff

Shares of online auctioneer EBay Inc., after struggling for most of the last six months, are suddenly in hot demand.

The stock jumped $16.50 to $209.75 on Nasdaq on Monday, in an otherwise weak market for tech issues.

EBay has run up 45% over the last two weeks, and is nearing the record high of $234 reached last spring--before Internet shares in general took a steep tumble.

Analysts say EBay's latest upswing has been fueled by optimism about the growth prospects of some of its new trading sites. The firm last week bought a stake in AutoTrader.com and said it will launch a site devoted specifically to car auctions.

Brokerage Goldman Sachs last week reiterated that EBay is on the firm's recommended list, and PaineWebber also reiterated a "buy" rating.

Advertisement
Los Angeles Times Articles
|
|
|