My money is straight down due to the high open. 2 other IPO's by Goldman, notably GCTY and CIEN when it was first brought public, went slightly below their IPO price after huge gap up openings. INKT of course did not, but then H&Q in a strong buy recommendation sent the stock up 25 points on a turn of the entire float, and so far this hasn't happened with EBAY.
Are you in? I want in very, very badly, but I am willing to patiently wait--and I may not even get the stock. My purchase price is $18 even--and not a penny more. Jerry
I was ready willing and able to come in on the opening day. I kept calling the Broker, and it wasn't out yet until approximately 10:00AM or so. It opened up at $53.00 a share. I was ready to spend up to $25.00, but $53.00 a share, I don't think so.
The outstanding number of shares is 3.5 million. 3.5 million multiplied by $53.00 equaled $185,500,000.00.
The company only made approx. $850,000.00 on sales of $7.5 million last year. What is the stock really worth? Usually one would buy the company for a little over the yearly sales figures. In this case let's say the company is worth perhaps $15 million. This is grossly exageratted as well.
15 million divided by 3.5 million shares = $4.29 a share.
There are a lot of people betting on this companies future and at $48.50 a share, it definitely is not going to be me!!
Is ridiculous. Unlike AOL, YHOO and AMZN.... I simply don't see huge growth in on-line auctions, especially considering the fact that giants like YAHOO are now offering free auctions as competition. Sure, their auction sites may not be as sophisticated as Ebays yet, but given YHOO's huge financial backing I find it hard to believe they will not soon chomp away at auctioneers like Ebay.