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

To: Jing Qian who wrote (2607)	4/13/1999 12:06:00 AM
From: uclatrader	Read Replies (2) \| Respond to of 7772

hi jing qian r u sure the secondary offering came out today cuz i thought it will be next wed thanx shuo

To: Jing Qian who wrote (2607)	4/13/1999 12:18:00 AM
From: Nelson Chang	Respond to of 7772

EBAY's stock action today. In a nutshell: Like all stocks, it opened lower due to CPQ. Like all the net stocks, it came roaring back to reach $195, up $12. It stablized at $190-$192, until 2:00 est. What happened? AMZN announced a press release that they were buying liveauction.com. And EBAY sold off. This is just like when AMZN made the announcement that it was entering the online auction business, so buyers/sellers quickly factored this into the price. And short term, it is almost always an overreaction. What happened shortly after EBAY factored in AMZN's entry people digested the news? EBAY soared to a new high of $183. What will happen now? That's your guess. But just keep in mind...EBAY is a whopping 3.6% off its high of $183 3/8. Consequently, AMZN did nothing from that announcement. What does that tell you? Earnings are scheduled for Monday April 26 after the market close. You can verify what I said by looking at EBAY's intraday chart (it will expire at the end of today) at quote.yahoo.com And at the time of AMZN's press release at biz.yahoo.com