Yeeehhaaawwwww! The sucker stock rises as the short squeeze heats up. What happened to the analysts on this one. Don't buy Ebay cuz you like the story, buy it cuz you like to enrich scam artists and riggers. The valuation is a joke. This is a cult stock, and they always get crushed. The riggers at MSCO and GSCO have more stock to sell however so they won't admit that the valuation is sham! Feel free to buy a stock with a 2065 P/E.
When I look at ebay I see a company trding at 1888 times projected year 2000 earnings. Continuing on at a 50% growth rate would mean that it is trading at about 239 times year 2004 earnings. I can't understand why this isn't a $40 dollar stock other than to say this company is built, run, and survives on hype. I hear many complaints about Yahoo's valuations and yet it pales in comparison to Ebay trading at only 218 times projected Y2K earnings and about 129 times 2001 projections. So again I ask is there any reason why Ebay should be where it is?
...captainItgain... You should know by now that valuations are meaningless in this day and age. Also don't forget that you have the world's most prestigious investment banking firm as an underwriter (GS) of this beautiful stock.
When eBay earnings come out in 20 days, the PE will be slashed in half - down to only 4000 or so!! Hehehehe!