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eBay Inc. Message Board

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  • lowerlowerlower lowerlowerlower Sep 29, 1998 8:04 PM Flag

    7:

    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!!

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