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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: CookiePuss who wrote (4137)	7/16/1999 12:52:00 AM
From: Stewart Elliot	Read Replies (1) \| Respond to of 7772

Yahoo auction count now above 475,000 and just under 20% of the ebay auction count (which is now inflated somewhere between 150-225,000 auctions with the introduction of the 10-day auction). The yahoo growth rate is incredible. Even with EBAY's inflated auction count, Yahoo is adding auctions at an even clip with EBAY, despite the fact it has 80% fewer auctions (in essence, yahoo's auction count growth rate is 5x Ebay's). After adjusting EBAY's count to take out the effect of the 10 day auction, EBAY's auction count may actually be declining. What do we have here? Little to no earnings, but that doesn't matter. Declining margins, but that doesn't matter. Greatly increased competition, but that doesn't matter. PE, PS, Book, Market cap - all pretty scary, but they don't matter either. And now, unimpressive growth. Well, if that doesn't matter, what does? I don't know much about double bottoms, but this stock looks like a fairly bad investment at this point. There's a long, long way to drop on this one .....