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Technology Stocks : eBay - Superb Internet Business Model
EBAY 82.79+0.4%Nov 28 9:30 AM EST
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To: Doug Fowler who wrote (1268)1/1/1999 10:44:00 PM
From: Stewart Elliot  Read Replies (2) of 7772
 
I did a quick and definitely unscientific survey and it appears that most (all?) auctions were converted to 14 day auctions in the december timeframe. Most new ones are only 7 days.

I'm not exactly sure what's going on here, but the spike in auctions due to the 14 day auction period may explain much of the sudden jump from 800,000 auctions to 1,200,000. I believe that your guess of 10% is very low. Admittedly, my quick survey (i spent about 20 minutes checking a bunch of auctions and different categories) is not enough to make any general conclusions, but my guess is that the auction length increase may be inflating the numbers by as much as 20-30%.

I've done a little more research on the insider trading issue. I recently spoke to a friend in the industry who is very familiar with goldman. For shorts, there's good and bad news. First of all, she believes there's a good chance that goldman would give permission to benchmark to sell after only 90 days. If so, benchmark could already be selling some of its position. However, the shorts may want to temper their enthusiasm on this issue because she notes that it is unlikely that benchmark will sell its entire stake. She pointed out that benchmark still owns a big stake in rambus, which has clearly done quite well (although ebay makes it look like an underperformer). Anyway, the float may increase faster than I thought, but perhaps not as much as I had originally expected.
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