We had a decent retail report and many of the retailers are up, however some bad news from domestic automakers. Does Ebay follow the auto industry moreso than retail news? I really expected a move up today after yesterday's rebound off lows on high volume!
ebay stock behaved like #$%$ this year, and as usual big boys know pretty much the results are probably going to disappoint. Retail sales data are decent overall for the market and this drops 4%+ breaks key support lines. Damn.
Nieman Marcus exit from ebay. More companies will follow suit in the near term. It's not profitable for them overall and gives their brand a bad reputation. Look at Coach. Getting slaughtered by Michael kors with its Ebay sales. The brand has become cheap (maybe not in prices yet) but has definitely lost its luxury appeal