eBay - Superb Internet Business Model Message Board

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Technology Stocks : eBay - Superb Internet Business Model

EBAY 93.60

-0.3%

Jan 23 9:30 AM EST

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To: rob108 who wrote (4940)	8/18/1999 11:58:00 AM
From: john douglas	Read Replies (1) of 7772

Rob, you'd better ask Josephthal & Lyon. They upgraded to strong buy this morning. Or the guy who bought 5000 shares at $127 earlier today. Out of my league <vbg>. The current PE is irrelevant. After all what's the PE on a zero coupon bond? Try to figure out EBAY's earnings growth going forward and apply a discount rate that recognizes the high risk associated with that income stream. What is relevant is do you believe in the future of the C2C auction space, do you believe its growth will be geometric, do you think EBAY will stabilize their web site, and do you think they can maintain their market share lead in the face of auction wannabes YHOO and AMZN. Very difficult questions to answer which explain EBAY's high volatility. Since EBAY hit my target so quickly, I'm only taking half of the table today, and I now see $155 quite possible. Message 10939775 Blodgett's holiday shopping basket of internets, which did NOT include EBAY, is giving the whole sector a lift. But the action on August 5 is looking more and more like the capitulation low. John

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