Looked at today's chart and it appears the market maker decided this stock was going to 36 and not going below. Artificial support is allowed on an IPO during the first month or so. After this initial period, no more help is allowed.
Nothing has changed with this company. Yes, I lost money today, but I am here for the long haul. Should be a few months before momentum dies and people realize that the competition in this field is getting very intense. A good example of this is with E-trade. They were the first to get out of the blocks and shot up to the 40's. Now E-trade is in the mid-teens.
Everyone agrees this stock is overpriced. Momentum and market maker support are driving the price up. However, once the momentum turns, the fall down will be even more dramatic.
I guess after todays rise in price you are really sucking some wind. and yes after a few days you can also buy this stock on margin. You will really see this stock fly. Regarding E-trade their stock sucks because thay have lousy customer service and keep their site up during heavy trading causing investors to use other online brokers. Do some DD will ya. After all EBAY was rated a BUY today.
Yeah, the fundamentals suck, but they do at most hotshot internet companies (like Yahoo).
eBay is not comparable to EGGS or Onsale. eBay competes with classified ads, not retail. They are different markets, with different psychologies.
Did you know that a significant proportion of classifieds readers will buy the classifieds without any intention of purchasing anything? It's like you stock traders who keep up on the numbers even if you aren't trading. Did you know that most classifieds, with the exception of Harte-Hanks, are privately owned, and a not well understood business?
eBay is not only an auction. It has real potential for refinement and re-targeting. It has the potential to seriously change the business of classified ads and, ultimately, the newspaper business.
Think about it. I'm waiting for the price to drop, for people to get confused for a while, and then buying long.