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eBay Inc. (EBAY) Message Board

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  • jimd040558 jimd040558 Aug 8, 1999 11:42 PM Flag

    HOUSTON WE HAVE A CREDABILITY PROBLEM..

    I have been a long time ebay buyer, not a seller.
    Long term this company has a future-IF...they can
    solve these ridiculous and totally avoidable problems.
    The ebay community is the largest asset they have,
    and as some have discovered, they are fiercely
    loyal.

    But...slowdowns and downtimes are not new, it's been going on
    since the beginning, but now they are high profile and
    will get zapped for it. For you non-technos out
    there...all businesses of any size use computers, and if this
    happened at those companies, even though their customers
    might never know about it, it's likely that heads would
    roll with a recurrent problem.

    Meg appears to
    be a nice enough person, but she's never run a
    company of this size and her inexperience is showing, and
    costing the company. She honestly appears to be clueless
    and confused in here interviews, not a good
    sign.

    During euphoric times like this market was for the past
    2 years, anyone will buy anything at any price. But
    there will be selective bloodletting now, because
    everything always repeat, ALWAYS, gets back to making a real
    profit from an ongoing business. During bear markets,
    even great companies with heavy profits take severe
    tumbles.

    Bottom line here is 2 weeks ago for the first and only
    time in my life, I shorted a stock, ebay. I'm not
    proud of it, but it's not hard to figure out. The
    market excess here is obvious.

    Meg should lose
    her job, money should be massively spent on a
    complete system overhaul, the ebay faithful will stay or
    come back, and this will be a wonderful little niche
    company, but it won't be at anything close to a 10 billion
    dollar market cap. For you longs who saw a 200 price not
    so long ago, sit down and do profit projections on a
    per share basis, then tell me you're getting this
    company at a discount. At 50 cents a share (which is a
    long way off, especially in the short run) this
    company is worth $20 to $30 a share, and that's assuming
    a bunch of right things happen for them. Take
    profits, protect against losses. Do what ya gotta do, but
    avoid a nondiversified doendraft like eBay.

 
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